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