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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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Tuesday, 23 June 15
FOB RICHARDS BAY COAL SWAP HAS REMAINED STEADY OVER THE PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and week over week.
The Q3 swap was up US$ 2.32 ...
Monday, 22 June 15
BORYEONG POWER PLANT TO IMPORT 140K MT OF LCV COAL FOR AUGUST - SEPTEMBER 2015
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to purchase 140K Metric Tons (MT) of LCV coal for ...
Monday, 22 June 15
CFR SOUTH CHINA COAL SWAP: UP MONTH OVER MONTH; DOWN WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 0.30 (0.58%) per MT month over month.
A commodity swap is a ...
Monday, 22 June 15
FOB NEWCASTLE COAL SWAP: UP WEEK OVER WEEK AND MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.54 per MT (1.19%) month over month to US$ 45.87 per mt. The swap was ...
Sunday, 21 June 15
SPOT RATE AVERAGES FOR FREIGHT FROM INDONESIA TO INDIA REMAIN STRONG THIS WEEK
COALspot.com: The freight market was quite firm this week compared to last week. The BDI was up 21% week on week and closed at 779 points. The cape ...
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Showing 2961 to 2965 news of total 6871 |
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- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Economic Council, Georgia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
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