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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, 28 August 14
BANPU REPORTS HIGHER FIRST-HALF YEAR RESULTS FOR 2014
COALspot.com: Banpu Public Company Limited (BANPU) reports higher first half-year financial results for 2014 having its gross profit increasing 3 p ...
Wednesday, 27 August 14
FREIGHT MARKET: IS THE MARKET IN A RECOVERY MOOD? - GEORGE ILIOPOULOS
Is the market in a recovery mood?
August is typically a time when the shipping industry takes it easy… charter-ers book their requireme ...
Tuesday, 26 August 14
4TH ANNUAL ASIA NICKEL
4th Annual Asia Nickel
19-20 Nov 2014
Grand Hyatt Jakarta, Indonesia
Web Site
Asia’s Premier Nickel Conference
Regulation in ...
Tuesday, 26 August 14
DESPITE LOW DRY BULK RATES, BULKER PRICES ARE STILL HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, August tends to be a month of slow activity in the sale and purchasing market and this year has been no exception. However, as shipb ...
Tuesday, 26 August 14
GOVT ON TRACK TO LIMIT COAL OUTPUT - THE JAKARTA POST
The government has announced that it will proceed with plans to cap the production of coal next year, a move aimed not only at protecting the envir ...
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- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- The University of Queensland
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- PTC India Limited - India
- Australian Coal Association
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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