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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, 28 July 14
S. KOREA'S KOSPO SEEKS 148K T OF 4700 NAR COAL
COALspot.com: Korea Southern Power Co Ltd (KOSPO) is seeking 148,000 tonnes of 4,700 kcal/kg NCV steaming coal for shipment between October to Nove ...
Monday, 28 July 14
CFR SOUTH CHINA COAL SWAP SLIGHTLY UP WEEK ON WEEK
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. The swap for Q3, Q4 and Q1 2015 showing slight improvement ...
Sunday, 27 July 14
RAMADAN HOLIDAYS IN INDONESIA PUTTING PRESSURE ON CHARTER RATES FROM INDONESIA - VISTAAR INDIA
COALspot.com: The freight rates were almost steady as very slight improvement in BDI by about 1 pct. The BDI was at 739 points after improvin ...
Saturday, 26 July 14
COAL MINING COMPANIES CLOSED TEMPORARILY - THE JAKARTA POST
The Sarolangun regency administration in Jambi has suspended the operations of 10 coal mining companies in line with a circular issued by Regent Ce ...
Friday, 25 July 14
U.S WEEKLY COAL PRODUCTION UP AROUND 3.5% WEEK ENDED JULY 19
COALspot.com – United States the world's second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
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- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- The University of Queensland
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
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