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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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Thursday, 04 September 14
PUNJAB STATE POWER CORPORATION LIMITED OF INDIA HAS DECIDED TO BUY IMPORTED COAL - HINDUSTAN TIMES
COALspot.com: The Punjab State Power Corporation Limited (PSPCL) has decided to buy imported coal to run its thermal plants, as reported by Hindust ...
Thursday, 04 September 14
INDONESIAN COAL MINERS MAY GET MORE TIME ON ROYALTIES - FITCH RATINGS
COALspot.com: Fitch Ratings says that coal miners in Indonesia are likely to get more time to repay the government the royalties that were set off ...
Thursday, 04 September 14
INDONESIAN COAL SWAPS SLIDE THIS PAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.90 (-1.68%) day on day and US$ 1.80 (-3.31%) per mt week on week. The ...
Thursday, 04 September 14
CAPESIZE : SENTIMENT REMAINS POSITIVE FOR Q3/Q4 - FEARNRESEARCH
Handy
The Atlantic market has experienced more activity this week. Rates for TA´s are up about 8% w-o-w, much lead by an increasing number ...
Wednesday, 03 September 14
KOREA MIDLAND POWER CO. LTD INVITES BIDS FOR 1 MMT OF BITUMINOUS & SUB-BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: KOMIPO again in the market for 1 million tons of 5700 NAR and 4600 NAR coal for Jan – March 2015. South Korean state-owned util ...
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Showing 3506 to 3510 news of total 6871 |
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- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Parliament of New Zealand
- PTC India Limited - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
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