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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, 03 August 14
LACK OF COAL SHIPMENTS FROM FAR EAST/SE ASIA, THE PRESSURE ON CHARTER RATES CONTINUED THIS WEEK
COALspot.com: This week, the freight rates were almost flat as charter rates were also almost steady from last week.
The BDI was up by 2.59 pc ...
Friday, 01 August 14
UNCERTAINTY IN ASIAN COAL MARKETS WHERE INDEX-LINKED PRICING DOMINATES - SGX
COALspot.com: In the past 3 years, seaborne thermal coal markets have been in a state of constant oversupply.
Reuters expects this oversupply ...
Friday, 01 August 14
U.S PRODUCED 19.4 MMST OF COAL IN A WEEK, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Thursday, 31 July 14
CAPESIZE: CARGO VOLUMES, COAL IN PARTICULAR, PRESENTLY NOT SUFFICIENT TO EMPLOY A GROWING FLEET - FERNLEYS
Handy
Both the Atlantic and Pacific has improved in the supramax segment over the last week, said Fernleys in Its latest weekly report . There we ...
Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
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- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Planning Commission, India
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Australian Coal Association
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- The University of Queensland
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
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