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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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Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
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- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Vedanta Resources Plc - India
- The University of Queensland
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
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