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Wednesday, 24 June 15
PANAMAXES: THE OUTLOOK REMAINS NEGATIVE AS DEMAND FOR COAL IS DIMINISHING - YANNIS OLZIERSKY
 As we get closer to the end of June, we can safely say that the 1st half of the year is leaving the dry bulk market with a bitter taste that we all wish to forget. The BDI was fluctuating around its lowest point ever recorded for the entire first half. The last two weeks though have given a much needed lift to the market, which nonetheless will need further momentum to make some actual difference in both sentiment and returns. Whether this momentum will be found in order to stabilize market rates at least above OPEX, is something that is hard to predict. However, and since we are coming out of the "dusk" of H1 and slowly moving towards the "dawn" of H2, a recap in titles could be of interest to our readers.
Starting with Capers, levels are currently at the highest point since January. With the Chinese iron ore inventories at their lowest point since November 2013 and with the price of iron ore at slightly above $60/ton, a mild recovery in terms of traded volume is expected. On the supply side, heavy demolition activity in H1 (more than 10mill dwt have been demolished since the beginning of the year) together with slippage, cancellation and conversions of dry bulk orders to tankers or containers, is restricting the growth of an already oversupplied market. On the other hand, China’s decision to support Vale’s iron ore expansion plan, may lead to an increase in iron ore supply. One would think that such decision would help the market recover on the back of tonne miles increase, however since most of Vale's transported iron ore will be shipped in Valemax ships the positive effect on rates will be hard to materialize.
On the Panamaxes, although rates have not seen today's levels since December 2014, the outlook remains negative as demand for coal is diminishing. Environmental concerns in many nations and especially in China have pushed towards usage of cleaner resources of energy. As a result, coal imports have declined significantly YoY and a revival is hard to be expected despite the fact that other big economies like India are increasing demand but doing so in a more moderated level. On the other hand, some support could be founded in the grain market on the back of the increased production of exporting countries like US, Canada and Brazil.
On the smaller sizes, Supramaxes have found support in the Atlantic thanks to grains and petcoke cargoes. India's high petcoke imports from the US have helped increase tonne miles in the sector, while in the Pacific, rates are also correcting upwards on the back of bauxite and nickel ore imports, with China being behind most of the latter. Handysizes are also trying to take advantage of the increase of shipments of both grains and other minor bulk commodities, however the impact on freights is moderate as charterers prefer to use bigger vessels for the transportation of commodities, especially for the Transatlantic trade.
In general, the market is being in doldrums and nothing exciting should be expected during the next couple of months, some spikes could give glimpses of hope. However, the next big thing will most probably be the fourth quarter of this year, a time when the market is traditionally advancing. What will happen this year remains to be seen with great interest. Therefore from the “dusk” of H1 till the “dawn” of the H2 nothing really crazy should be expected, apart maybe from some humans turning into vampires somewhere in a bar close to the Mexican borders...
By Yannis Olziersky
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 15 July 15
SAS TO BUILD 108 KM ROAD FOR COAL IN JAMBI, SAYS JAKARTA POST
Jambi Governor Hasan Basri Agus said on Sunday that mining company PT Sinar Anugerah Sukses (SAS) would develop a 108-kilometer road with a width o ...
Wednesday, 15 July 15
ANY FUTURE IRAN OIL DEAL WILL BOOST SUPPLY FUNDAMENTALS WITH TANKER OWNERS HOPING FROM TEHRAN TO QUICKLY BOOST ITS PRODUCTION
With the Greek “Euro-drama” apparently over, at least for now, Iran’s oil deal still remains elusive, with any potential agreemen ...
Tuesday, 14 July 15
FOB NEWCASTLE COAL SWAPS MAINTAIN OVERALL NEGATIVE TONE THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.02 per MT (-2.23%) month over month to US$ 44.68 per mt. The swap ...
Tuesday, 14 July 15
CFR SOUTH CHINA COAL SWAPS DECLINE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 1.47 (2.82%) per MT month over month.
A commodity swap ...
Monday, 13 July 15
THERMAL COAL IMPORTS SOAR 23 PER CENT TO 24.08 MILLION TONNES AT 12 MAJOR INDIAN PORTS
Import of thermal coal jumped 23 per cent to 24.08 million tonnes at 12 major ports in the first quarter of the fiscal, even as the government cont ...
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Showing 2926 to 2930 news of total 6871 |
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- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Australian Coal Association
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
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