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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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Tuesday, 22 July 14
ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release: Registration Open for Fourth Annual Asian Sub-Bituminous Coal Users’ Group Conference
Register today for this year&r ...
Monday, 21 July 14
25% OF INDIA'S POWER PLANTS WERE HAVING SUPER CRITICAL COAL STOCK - COAL AND POWER MINISTER
25% of India’s power plants were having super critical coal stock; power utilities have also been advised to enhance the import of coal - Coa ...
Monday, 21 July 14
INDONESIA'S STATE CONTROLLED COAL MINER BUKIT ASAM ENJOYED HIGHER SELLING PRICE DURING THIS STORMY MARKET
COALspot.com: PT Bukit Asam, the Indonesian government controlled coal miner announced today that, the company has produced 7.70 million tons of co ...
Monday, 21 July 14
CFR SOUTH CHINA COAL Q3 DELIVERY SWAPS LOST 16% SINCE JANUARY 17, 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. Market is not showing any positive trend in near future.
...
Sunday, 20 July 14
THE FREIGHT MARKET CONTINUED ITS DOWNWARD TREND
COALspot.com: The market continued its downward trend this week as all segments were down compared to last week. The Cape and Panamax indices being ...
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- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
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