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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, 23 July 14
HARD COAL 2013: THE WORLD'S SECOND-MOST IMPORTANT ENERGY SOURCE AND GUARANTOR FOR THE SECURITY OF ENERGY SUPPLIES DURING TIMES OF CRISIS
Hard coal is again in 2013 the fastest-growing fossil primary energy source in the world. As shown in the BP Statistical Review 2014, it covered ab ...
Tuesday, 22 July 14
INDONESIAN ELECTION RESULT ENCOURAGING FOR FOREIGN INVESTMENT IN ENERGY AND MINING SECTORS - WOOD MACKENZIE
Joko Widodo-Jusuf Kalla has been announced as the official winner of Indonesia's presidential election. Joko Widodo, or Jokowi, is viewed as a ...
Tuesday, 22 July 14
THE CURRENT COAL PRICES ARE UNPROFITABLE FOR MINERS; COAL PRICES WILL GRADUALLY INCREASE - FITCH
COALspot.com: The Fitch Ratings expect the benchmark Newcastle coal prices (currently at about USD70/MT) to gradually increase.
Fitch's la ...
Tuesday, 22 July 14
SUB-BIT FOB INDONESIA COAL Q3' 14 DOWN 5.21%; Q4' 14 DOWN 3.56%; Q1' 15 DOWN 4.75% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 flat on day, weak week on week and on month according to AsiaClear OTC coal swap' ...
Tuesday, 22 July 14
INDONESIA'S MINERAL EXPORT BAN: CHINA UNDER PRESSURE? - CLARKSONS
In January 2014, Indonesia introduced new regulations on exports of unprocessed minerals. Exports of some minerals have been heavily taxed, whilst ...
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- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Economic Council, Georgia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
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