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Thursday, 26 February 15
DRY BULK MARKET COULD REBOUND FROM HISTORICAL LOWS IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market could exit from its historical lows in the coming weeks, as Chinese buyers reenter the market after the holiday celebrations. This is already evident from the iron ore fixture activity. According to the latest report from shipbroker Golden Destiny, “Chinese iron ore fixture volume shows solid levels. According to Commodore Research, there is an increase in Chinese iron ore fixture volume with 26 vessels being chartered to haul iron ore to Chinese buyers last week, 5 more than the previous week and 3 more than the trailing four week average”.
The Piraeus-based shipbroker added that “fixture volume has remained moderately above the relatively low volume seen in early January. Meanwhile, Chinese steel production remains under serious pressure as recently data from the China Iron and Steel Association shows that average daily crude steel production at China’ key steel mills totaled 1.69 million tons during January 21 to January 31. This is the same level that was reported by CISA from January 11 to January 20 and the lowest seen since late November. In the thermal coal market, Chinese fixture volume is not so strong as in the iron ore market 4 vessels were chartered to haul spot thermal coal cargoes to Chinese buyers last week, 3 less than was chartered during the previous week and 1 less the trailing four week average. Overall, demand for imported thermal coal remains well below the peak level last seen in January 2014. One more negative factor in the coal market with a dismal influence on the panamax segment is that India’s power plant coal stockpiles have increased further this week and now exceed the stockpile level seen a year ago. At present, approximately 18.6 million tons of coal is stockpiled at Indian power plants. This is 100,000 tons more than was stockpiled a year ago”, said Golden Destiny.
It also mentioned that “the levels of BDI could not found support from any vessel size and ultramax newbuilding deliveries have an intense downward effect on the performance of panamax and handymax markets. The Chinese iron ore fixture volume fuels some hopes for better returns in the capesize segment after the end of Chinese New Year, but there is still high uncertainty for the performance till the end of the first quarter of the year. Currently, a positive sign of these days is that there is a decrease in Chinese iron ore port stockpiles and approximately of 93 mil tons of iron ore is now stockpiled at Chinese ports, down year-on-year by 5.5 million tons (-6%). Iron ore price persists at record 6 years’ low of $62/ton as Chinese iron ore appetite is holding back due to Lunar New Year”.
It’s also noteworthy that the LNG segment is in similar mode. “LNG spot rates remain in the doldrums, while there are market indications about LNG carriers being laid up around Singapore. According to shipping data on Thomson Reuters, seven tankers have been sitting idle off the east coast of Johor, Malaysia, for over two weeks, and another two ships have been anchored south of Batam, Indonesia, for several months. Half a dozen LNG tankers are in Singaporean docks. The 15 ships have a combined capacity to carry 2.26 million cubic metres of LNG, about two weeks worth of Singapore’s gas demand. LNG spot rates have now declined to $54,800/day despite roughly 5 fixtures being reported this week”.
Meanwhile, in shipping finance deals this week as tracked by Golden Destiny, “BW LPG Limited announced that it has signed a Facility Agreement for a debt facility of up to USD400 million for financing seven of its VLGC newbuildings. The financing has been raised from The Export-Import Bank of Korea (“KEXIM”) as Export Credit Agency (ECA) lender, with DNB Asia Limited (“DNB”) and Skandinaviska Enskilda Banken AB (Publ), Singapore Branch, (“SEB”) as Mandated Lead Arrangers and commercial lenders.DNB and HSBC Bank Plc. (“HSBC”) acted as ECA structuring advisors with HSBC also acting as ECA coordinator.
The Facility comprises the following: An ECA tranche of up to USD268 million that is being provided by KEXIM, representing approximately 67% of the facility amount. A Commercial tranche of up to USD133 million, split equally between the two commercial lenders, representing approximately 33% of the facility amount. The debt financing will be secured against seven of the Company’s VLGC newbuildings. The blended margin over LIBOR applicable across all tranches of the financing is 1.70% p.a., and the weighted average amortisation profile will be 18 years”, Golden Destiny concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 25 February 15
PORT OF NEWCASTLE SHIPPED 13.16MT OF COAL IN JANUARY; DECLINED 16.70% FROM A MONTH AGO
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.15 billio ...
Wednesday, 25 February 15
BDI SLIPPING ONCE MORE TO FRESH HISTORICAL LOWS
COALspot.com: With the BDI slipping once more to fresh historical lows and the Chinese holidays underway, signs for a positive reversal in the Dry ...
Tuesday, 24 February 15
FOB INDONESIA COAL SWAP SET TO RALLY
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap increased US$ 3.30 (+7.30%) ...
Tuesday, 24 February 15
Q3' FOB RICHARDS BAY COAL SWAP CLOSED $59.80 W/E 20 FEB
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and decline week on week.
The Q2 swap has soar ...
Tuesday, 24 February 15
IHS ENERGY COAL CONFERENCE OF THE AMERICAS
Attend the IHS Energy Coal Conference of the Americas 17-19 March in Cartagena, Colombia and learn about timely concerns in today's coal indust ...
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- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
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