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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, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
Monday, 18 August 14
SUB-BIT FOB INDONESIA COAL SWAP CLOSED AT $58.60 FOR SEPTEMBER 2015; UP $4 FROM SEPTEMBER 2014 CLOSING
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.27%) day on day and US$ 0.75 (-1.36%) per mt week on week. Th ...
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- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- The University of Queensland
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- SMG Consultants - Indonesia
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