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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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Wednesday, 06 August 14
SHIPPING MARKET INSIGHT - EVA TZIMA
Recent reports that Indonesia’s ban on exports of metal ore concentrates was lifted for the first time in six months for two of its biggest m ...
Wednesday, 06 August 14
SGX SUCCESSFULLY LAUNCHED NEW SGX COAL PRODUCTS
COALspot.com: Singapore Exchange (‘SGX’) has announced that, the exchange has successfully launched its new Coking and Thermal Coal pro ...
Monday, 04 August 14
ANNUAL SECOND HALF SURGE IN BRAZILIAN IRON ORE EXPORTS ABOUT TO BEGIN - JEFFREY LANDSBERG
COALspot.com: Great strength in the capesize market has all along been set to occur during the second half of this year, as that is when Brazilian ...
Monday, 04 August 14
SUB-BIT FOB INDONESIA COAL SWAP INCHES UP DESPITE LOW DEMAND
COALspot.com: Indonesian coal swaps for average Q4’ 2014 increased US$ 0.15 day on day and US$ 0.13 per mt week on week. But, the swap was lo ...
Monday, 04 August 14
Q1' 15 API 8 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 69.37 ON 1 AUGUST 2014; A $ 1.10 HIGHER COMPARED TO Q4' 2014 CLOSING
COALspot.com: Coal swap prices are showing a positive move upward this past week. API 8 CFR South China Coal swap for Q4, Q1 and Q2 2015 show ...
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- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- The University of Queensland
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
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