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Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
 When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussion over the market’s future prospects is being dominated by the obvious tonnage oversupply, things could very well start to show modest signs of improvement in the demand-side of the market as well.
Dry bulk ship owner Golden Ocean said in its latest quarterly report that “China’s official GDP growth slowed to 6.7% in the first quarter of 2016. In the new five-year plan announced in China in March the target for annual GDP growth during the next five years was set to 6.5%. This is the first time that the target set has been higher than the consensus estimate from various analysts. Although the Chinese authorities are focused on growth from “softer” sectors like services, they still say that no goals should jeopardize social stability or economical prosperity. This could bode for some additional investments in infrastructure projects and fixed asset investments if growth is not kept at an acceptable pace. Moreover, control of infrastructure projects have been taken back centrally to Beijing. March statistics for China showed better economic outlook, as both growth in fixed asset and infrastructure investments as well as new loans all showed signs of improvement. Growth in fixed asset investments picked up from the low in the past three months to 11.2%, the highest since July last year, and growth in infrastructure investments has been on a downward trend in the last two years and dropped to a multi-year low of 8.6% in December last year but ramped up to 22.5% in March. Whether the recovery of growth will remain is of course the big question”, said the shipowner.
Golden Ocean added that “when looking at the various main commodities transported, all of them had a slow start to the year. With low commodity prices and forward curves in backwardation, building down inventories has been preferred to importing new volumes. Imports of coal to China were very low at the beginning of the year at around 13 mt per month, but picked up in March to 19 mt per month, which annualized is at around the same levels as last year. There are some signs of stability, and as many Chinese mines are closing down and imports are a small part of the total volumes, in the shorter term there could also be some upside potential on these numbers. India has had a high local output on coal and also has around 25 days of inventories available and has disappointed those that were most optimistic on India’s substitution of Chinese demand”.
Meanwhile, “grain has been very strong in the first quarter of 2016 with an increase in transported volume of 13% year on-year. In particular long haul distances with exports from Brazil and Argentina has increased massively in the quarter, and this also led to increased waiting times in the ports, while other shorter haul distances have been reduced. The increase in transportation is mainly driven by imports to China. For other minor bulks there has also been an increase in volumes, and for bauxite also in ton miles. Steel products have also stabilized around the levels from last year and these commodities balance the drop in coal and iron ore. With global GDP growth expected to be just above 3% for the next coming years steel production is likely to remain flat. At the same time, the replacement between local Chinese iron ore and imports is still continuing, although at the moment the local production is around 200 mt (62% Fe equivalent) compared to total import in 2015 of 953 mt. Most analysts still believe in slight increase in imported volumes. The larger miners have adjusted down their volumes based on the low prices seen earlier this year, but it is expected that Vale will take a larger portion for the remainder of the year, adding ton mile”, said Golden Ocean.
It concluded by noting that “utilization during the first quarter of 2016 was estimated to be around 78% for the dry bulk fleet overall, with Capesize utilization lower during the worst periods of the quarter. Should the current market environment continue and demand growing at the slow pace as most analysts believe, at the same time as deliveries are postponed or cancelled and scrapping keeps up, utilization will improve slowly over the coming years”.
Source: Hellenic Shipping News
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Tuesday, 17 May 16
CHINA THERMAL-POWER OVERSUPPLY TO WORSEN - FITCH
COALspot.com: The overcapacity in thermal-power generation in China is likely to worsen in 2016 to 2017, Fitch Ratings says in a new report.
F ...
Tuesday, 17 May 16
ON YOUR MARKS: TRACKING CHINESE TRADE - CLARKSONS
One of the major drivers behind the challenges currently facing many of the shipping markets has been slower demand growth. World seaborne trade gr ...
Monday, 16 May 16
INDONESIAN WEEKLY COAL INDICES AT POSITIVE LEVELS - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.31 percent week over week to averaging $38.94 per ton this past week, shows CS ...
Monday, 16 May 16
OPEC SEES RIVAL OIL PRODUCTION DECLINING
Crude Oil Price Movements
The OPEC Reference Basket averaged $37.86/b in April, a gain of $3.21 or 9.3%. This was 40% higher than the lows reache ...
Monday, 16 May 16
THE FREIGHT MARKET WAS WEAK AND ALL SEGMENTS EXCEPT PANAMAX WERE DOWN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
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- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- The University of Queensland
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
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