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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, 24 July 14
INDONESIA'S JUNE 2014 COAL EXPORT VOLUME DOWN 6.82%; AVERAGE SELLING PRICE DOWN
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.70* ...
Thursday, 24 July 14
HANDY: SOUTH AFRICA SOFTENED A BIT, HERE RATES ARE AT AROUND 8K +150K BB FOR TRIPS EAST - FEARNLEYS AS
Handy
The handy market in the Atlantic is going sideways and a tick down on low activity. Levels hoovering around USD 5k on Supras. The SMX marke ...
Thursday, 24 July 14
INDONESIAN COAL EXPORTERS ARE REQUIRED TO OBTAIN ET-BATUBARA UNDER LATEST TRADE MINISTRY'S NEW REGULATION
COALspot.com: Indonesia's trade ministry has issued regulation No. 39/M-DAG/PER/7/2014 which is requires exporters of power plant coal as ...
Wednesday, 23 July 14
PANAMAXES WERE BACK ON A DOWNWARD COURSE; CAPES WERE FEELING THE MOST PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market was on a downward spiral this week, with the BDI noting another week-on-week decline of the magnitude of 10% this ...
Wednesday, 23 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
In Australia, the world’s largest mining group, BHP Billiton, will beat the iron ore export target of more than 220 million tonnes for 2014. ...
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- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- The University of Queensland
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
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