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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, 18 August 14
CFR SOUTH CHINA COAL SWAP PERFORMED WELL THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.45 (+0.66%) day on day and US$ 0.30 (+0.44%)&nbs ...
Saturday, 16 August 14
HIGH DEMAND OF IRON ORE SHIPMENTS PUSHED CAPE INDEX UPWARDS
COALspot.com: This week's freight market was buoyant with Cape and panamax index seeing a big jump pushing the BDI above 1,000 points week on c ...
Friday, 15 August 14
5TH ANNUAL POWER AND ELECTRICITY INDONESIA
5TH ANNUAL POWER AND ELECTRICITY INDONESIA
13-16 October 2014
Grand Hyatt Jakarta, Indonesia
Web Site
The country’s definitive ...
Thursday, 14 August 14
U.S. STEAM COAL IMPORTS REMAIN DOWN SHARPLY FROM HISTORIC HIGH IN 2007, SAYS EIA
COALspot.com: U.S. steam coal imports at power plants have fallen significantly from their peak level of more than 30 million tons in 2007 to less ...
Thursday, 14 August 14
INDIA'S PLAN TO START AN INFRASTRUCTURE BOOM AND TO INVEST US$ 1 TRILLION BY 2017 WILL SURELY AFFECT THE DRY BULK TRADE - FEARNLEYS
Handy
The Atlantic Supra market has continued its improving sentiment with rates climbing and TA´s are now up about US$ 900 w-o-w, said Fea ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
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