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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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Saturday, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities ...
Friday, 29 August 14
U.S. WEEKLY COAL PRODUCTION DROPS 1.3 PERCENT, EIA SAYS
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global ...
Friday, 29 August 14
CHINESE LIGNITE IMPORTS: QUANTITY OVER QUALITY? - CLARKSONS
In the first half of 2014, Chinese seaborne coal imports declined 0.4% y-o-y to 148mt, largely reflecting a 3.3% fall in imports of steam coal. Mea ...
Thursday, 28 August 14
PANAMAX: OWNERS CAN GET AROUND USD 16000 FOR A FRONTHAUL; PERIOD MARKET - VERY QUIET - FEARNLEYS
Handy
The activity and sentiment is improving in the Atlantic with the general TA rate is up about US$ 800 w-o-w. We see more South American carg ...
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- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Australian Coal Association
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
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