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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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Wednesday, 03 September 14
CFR S.CHINA COAL SWAP FOR JAN 2015 DELIVERY CLOSED AT $ 68.30 PMT; DOWN 2.43% W-O-W
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.95 (-1.39%) day on day and US$ 1.40 (-2.03%) week on wee ...
Tuesday, 02 September 14
BERAU COAL HAS AWARDED A CONTRACT EXTENSION TO BUMA FOR 647 MLN BCM OVERBURDEN REMOVAL
COALspot.com: PT Delta Dunia Makmur Tbk (“DOID”) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama (&l ...
Monday, 01 September 14
GLOBALCOAL WELCOMES TWO NEW MARKET MEMBERS
COALspot.com: globalCOAL® announced today that two Market Members have joined its trading community. Both new Market Members are from the India ...
Sunday, 31 August 14
COAL FREIGHT RATES INTO INDIA FROM INDONESIA FIRM
COALspot.com: The freight market continued to firm this week. BDI up 5.42 percent week ended 29 August and closed at 1147 points while the Ca ...
Saturday, 30 August 14
INDIAN GOVERNMENT SHOULD TAKE NOTICE: THERMAL COAL IMPORT PRICES EXTREMELY LOW - COMMODORE RESEARCH
COALspot.com: Both Indonesian and Australian thermal coal prices are at the lowest levels seen this decade, with Indonesia's monthly benchmark ...
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- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
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