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Wednesday, 03 December 14
CAPESIZE DRY BULK CARRIERS ENTER 2015 WITH MIXED FORTUNES, WITH A POSITIVE AND A NEGATIVE SCENARIO BOTH EMERGING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The future of the Capesize dry bulk market appears to be engulfed from mixed “feelings” among analysts and market participants, despite the fact of the relatively positive performance of late. The “pessimists”, as described by shipbroker Allied Shipbroking’s latest weekly report, are negative regarding the future prospects of the Capesize market, at least during the first half of 2015, while things are not looking much better for 2015 as a whole. According to Mr. George Lazaridis, Head of Market Research & Asset Valuations, the arguments expressed claim that “with the steel industry being considerably shaken up after the softer results witnessed out of China throughout the year, the market has found itself once again plagued by overcapacity in terms of vessels and excess supply of steel products, possibly marking a further slowdown in steel production growth. Having now en-ered the final month of 2014 and with rates in the final quarter of the year having grossly disappointed the expectations that had accrued from the more promising final quarter of 2013, the market has now been left in shatters in terms of market sentiment, while the headache of the excessive order book continues to loom in the horizon”.
By contrast, those who voice more optimistic views, say that things could very well be better. According to them, “iron ore trade and in particular seaborne trade, has been mainly driven by Chinese demand for almost a dec-ade now and while demand for steel production may well be faltering, it doesn’t not look like we will see an outright reduction in demand for this vital commodity. At the same time, with prices of the ore having dropped to consecutively record 5 year lows over the past months, it has been Chinese internal iron ore production that has been most at threat. Both Australia and Brazil have considerably lower breakeven levels and can sustain their production at price levels considerably lower than their Chinese counterparts. This means that as the price drops further it will likely be seaborne imports that will have most to gain boosting their demand and as such their volumes”, Lazaridis noted.
He added that according to the optimists of the dry bulk market, “the considerable iron ore inventories that have amassed in most major Chinese ports are likely to be consumed fairly quickly by the ramped up Chinese steel produc-tion and at the same time the average levels of port inventories will have to be raised in order to better secure against any disruptions in production as they will be more reliant on imports moving forward”.
As a results, Allied’s analyst wonders which will be the case out of the above different scenarios. According to him, “there may well be an increasing rise for iron ore imports, however Australia has championed as main supplier to China for many years and as things are looking now, they have been gaining further ground during 2014, moving from a 51% market share in 2013 up to roughly a 58% market share now. This means that as their mines ramp up production and gain ground in the market they will likely eat up some of the further away competition as well, countering some of the positive effects of the higher reliance of China on imports, as Aussie ore also takes up volume from longer haul sources as well”.
According to the shipbroker’s view on the 2015 dry bulk market, “as things stand now it looks as a reasonable scenario for Chinese iron ore imports to rise by around 10-15% on a year-on-year ba-sis, while to put this number in perspective the respective number for 2014 looks close to around 16%. Having said that, this rise in imports is possibly going to translate into a more marginal 5% demand growth and even this figure seems to be optimistic. At the same time the schedule of newbuilding deliveries is quite well packed with over 139 vessels currently set to hit the water within 2015, while the lower bunker prices might add another headache as fuel consumption becomes less of an issue and many charter-ers start to push for higher speeds and in turn further increase the total annual carrying capacity of the Capesize fleet”, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 28 November 14
NEW BIMCO CLAUSE AIMS TO REDUCE SUPPLIERS' RELIANCE ON SHIP ARREST FOR CHARTERERS' UNPAID BUNKERS
KNOWLEDGE TO ELEVATE
Ship owners can, on occasion, find themselves in the invidious position of suffering unexpected loss of hire due to a tim ...
Friday, 28 November 14
JSW ENERGY AND GRM RESOURCES JOIN GLOBALCOAL
COALspot.com: globalCOAL® announced yesterday that two new Market Members have joined its online coal trading platform. According globaCOAL&rsq ...
Thursday, 27 November 14
MINING SERVICES TAX SPIKED BY 233% - BISNIS INDONESIA
COALspot.com: The Energy and Mineral Resources Department of Indonesia said the tax contribution from mining services sector in the 3rd Q 2014 ...
Thursday, 27 November 14
PANAMAX : EXPECTATION'S FOR A STRONG END OF YEAR RUSH, DISAPPEAR DAY BY DAY - FEARNLEYS
Handy
“We have experienced a firming market the last couple of weeks. More activity from cargo owners in the Atlantic and less available to ...
Wednesday, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
COALspot.com: The Dry Bulk market managed to reverse its course from the week prior and with the sole exception of the Panamax segment, we witnesse ...
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- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- The University of Queensland
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
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