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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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- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- The University of Queensland
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Planning Commission, India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
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