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Saturday, 06 September 14
DRY BULK MARKET'S PROSPECTS ARE IMPROVING, DESPITE WEAK SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market has been rebounding during the past month, with the Baltic Dry Index (BDI) ended the week on a high note, reaching 1,155 points, a much better performance than the one noted during the past few months, when it had reached levels well below the 800-point mark. According to a recent market analysis provided by dry bulk ship owners Golden Ocean, “the second quarter took the dry bulk industry by surprise. It did not live up to expectations forecasted by most analysts following the sector.
Capesize vessels earned on average $11,900 per day compared to $16,300 per day the previous quarter. This is still almost twice as much as the same quarter in 2013. The Panamax segment was even a bigger disappointment and earned on average $6,300 per day which was even lower than the same quarter previous year”.
Golden Ocean noted that “Chinese steel production has grown by approximately six percent in the first half of 2014 from the previous six month period, which was in line or even above the consensus forecast. Analysts have also been right in their fleet growth assumptions, so the relatively disappointing fleet utilization has to be explained by other reasons. Continued weak Chinese coal and bauxite import has meant a plentiful supply of Panamaxes to put pressure on Capesize through ratios in the coal trade. Coal demand from China has been considerably lower than anticipated due to more available hydro power and increased use of natural gas.
Chinese imports and production of thermal coal each declined by one percent in the first half of 2014 compared to the first half of 2013. In addition, the ban on exports put in place by the Indonesian Government for nickel ore and bauxite, and a relatively moderate South American grain season did not support the smaller segments which again have a negative impact on Capesizes. China has been drawing down on bauxite and nickel ore inventories for the last six months and unless the ban is lifted sourcing has to take place from longer distances”, said the ship owner.
It added that “iron ore, which is the main demand driver for the Capesize segment, has lived up to its expectations. China alone imported 457 million mt in the first half of the year, representing an increase of 19 percent year on year. The three major suppliers in Australia (Rio Tinto, BHP and FMG) have pushed forward their expansion plans and are expected to add another 130 million mt of extra commodity this year.
Brazil is also adding capacity and if the country is going to reach its target of 350 million mt for 2014 a ramp up has to take place in the second half of 2014. This should support the freight market given the longer sailing distances to Far East. Prices of international ore have been under pressure and should support imports versus domestic Chinese production going forward”.
According to Golden Ocean, “approximately 11 million dwt of new dry bulk capacity was delivered during the second quarter of 2014, compared to 16 million dwt the previous quarter. Scrapping has been fairly stable and four million dwt was removed from the tonnage list last quarter. As a consequence of a softer freight market, ordering of new vessels came down compared to the previous quarter.
Available data is showing that orders for 14 million dwt of new capacity were signed during the second quarter of 2014, half of what was reported during the first quarter of 2014. The present order book represents approximately 19 percent of the existing fleet”.
Meanwhile, according to the owner, “after several quarters of steady rise in asset values, prices corrected down. The Capesizes however were holding better up than the smaller segments and according to sale and purchase brokers modern vessels (maximum 5 years old) were priced three percent lower by the end of June compared to end of March 2014, while Panamaxes and Supramaxes lost between 5 and 10 percent compared to end of March 2014, depending on age and country where built.
The positive development in newbuilding prices seems to have had a halt in the quarter and a minor negative correction has been observed”, it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Sunday, 07 September 14
FREIGHT MARKET CONTINUED TO BE FIRM IN SPITE OF CAPE'S THIS WEEK'S WEAK PERFORMANCE
COALspot.com: BDI up by 0.7 pct week on week and closed at 1155 points this week. The Baltic Dry Index is a composite of three sub-indexes that mea ...
Sunday, 07 September 14
SHIPMANAGERS SUPERVISION CONTRACT FOR NEWBUILDS - BIMCO
Shipmanagers are frequently called upon by their owner clients to supervise newbuilding projects on their behalf. The scope of the manager’s ...
Saturday, 06 September 14
SLOW COAL EXPORT REGISTRATION RAISES CONCERNS - THE JAKARTA POST
Several coal mining companies have yet to receive the go-ahead from the Energy and Mineral Resources Ministry to obtain exporting licenses, leading ...
Saturday, 06 September 14
INDONESIA WANTS TO REGULATE COAL DEALS - THE TELEGRAPH INDIA
Indonesia has raised concerns about suspected coal deals struck between overseas buyers and its unregistered domestic miners, the telegraph India r ...
Friday, 05 September 14
U.S. PRODUCED 19.2 MMST OF COAL LAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
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- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
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