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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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Monday, 25 August 14
4TH ANNUAL FLOATING TERMINALS
4th Annual Floating Terminals
18-20 Nov 2014
Intercontinental Jakarta Midplaza,
Indonesia
Web Site
The Floating Terminal c ...
Monday, 25 August 14
THE BALTIC DRY IS JUMPING, BUT DON'T DRAW ANY BROAD CONCLUSIONS - NASDAQ
Those who consistently preach doom and gloom and see an economic apocalypse around every corner would make me laugh if it weren’t for the fac ...
Monday, 25 August 14
COAL CEOS: DEMISE OF COAL 'EXAGGERATED' - MARK WILCOX
By Mark Wilcox
Heads of some of the largest coal companies in Wyoming are saying the demise of coal has been exaggerated, though the industry def ...
Monday, 25 August 14
INDO COAL SWAPS W-O-W: NEGATIVE; M-O-M: POSITIVE
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.28%) day on day and US$ 0.65 (-1.19%) per mt week on week. Th ...
Monday, 25 August 14
API 8 CFR SOUTH CHINA COAL SWAP GAINED DAY OVER DAY AND MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.30 (+0.44%) day on day and decreased US$ 0.20 (- ...
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- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- The University of Queensland
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
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