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Friday, 02 August 13
DRY BULK MARKET STABILIZES ON RENEWED MARKET ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market has kept its positive footing this week, although it's still a far cry to deem the market situation as a growing one, especially given the fact that traditionally, summer is a slow period for dry bulk. According to the latest session of the Baltic Dry Index, the BDI, an industry benchmark was up by four points to 1,066. The biggest improvement was for the Capesize segment, which seems poised for another rebounding week. The Baltic Capesize Index rose by 54 points to 1,935. By contrast, Panamaxes and Supramaxes were lower yesterday.
According to the latest weekly report from Fearnleys, in the Capesize segment, "the flow of cargoes remains relatively stable, and the Pacific is looking promising. The west Australian shippers have been active, resulting in freight rates improving from 7.75 to lower 8´s early this week. In the Atlantic, rates are under pressure due to the strike in Columbia. There is still a lack of fronthaul fixtures being concluded, but more cargoes are anticipated and rates are expected to improve also for the Tubarao/Qingdao route", the shipbroker said.
In the Panamax market, "in general the week has been a quiet one with limited activity in both hemispheres. The biggest decline we saw in the Atlantic, with a lack of new orders causing the tonnage list to outnumber the cargoes. In the east there were more aps fixtures and charterers trying to push the rates down. TA´s pending around USD 10-11k depending on durations and delivery. Some fronthauls were reported at a healthy 18k level but these were probably concluded end of last week. Despite the low activity some longer period fixtures with options were rumoured and levels were below the 10k mark", Fearnleys said.
Finally, in the Handy segment, "the Pacific market is still facing low activity, so no wonder that the tonnage list is getting longer. It´s still Ramadan and only a few coal shipments circulated. For vessels spot Singapore to India owners could get around mid USD 8k and for trips to China around USD 9k. Backhaul orders to USG are paying around USD 3k levels. Low activity on the period side. For S.Afr mid-Aug cargoes is coming into the market but chrtr not move yet as they try to achieve low USD 8k+low USD 200k levels while owners remain at high USD 8k+USD 300k levels", the shipbroker concluded.
Meanwhile, in other positive news for the dry bulk market, Commodore Research & Consultancy highlighted earlier in the week, the fact that Chinese steel stockpile levels and steel prices have continued to normalize and are finally close to reaching last year’s levels. According to Commodore, "Chinese steel stockpiles have remained above 2012’s level since the second week of March. On March 8th of this year, 19.7 million tons of flat and construction steel products were stockpiled in China. This was 1.1 million tons (6%) more than was stockpiled on March 8, 2012. The gap between 2013 and 2012 stockpile levels then widened significantly during the next few months, which was a clear sign of Chinese steel production exceeding demand by a large amount. The widest gap this year saw steel stockpiles up year-on-year by 4 million tons (23%) on April 5th. At that point, Chinese steel stockpiles totaled a robust 21.9 million tons. In comparison, stockpiles totaled 17.9 million tons on April 5, 2012. During the next twelve weeks, Chinese steel stockpiles remained up year-on-year by at least 12%. It was not until the beginning of this month that steel stockpiles fell to levels that exceeded 2012 levels by less than 12%", Commodore noted.
It added that "at present, 15.7 million tons of steel is stockpiled in China which is just 200,000 tons (2%) more than was stockpiled a year ago. Steel stockpiles have returned to healthier level as steel production has fallen to a level more in line with actual demand. The first three weeks of this month have seen daily crude steel production average roughly 2.11 million tons. During the last week of June, however, daily crude steel production was averaging approximately 2.18 million tons. The decline in steel production has helped lead to a normalization in Chinese steel stockpiles. Chinese steel prices have also finally come closer to reaching last year’s level. The average price of 3.0mm hot rolled coil in China, for example, has risen to about 3,765 yuan/ton ($614). Steel prices have now increased in four consecutive weeks, and are now just 135 yuan (-3%) less than where they stood a year ago. Chinese steel prices have remained below 2012 levels for all of this year, and as recently as the last week of June were down year-on-year by 15%. Overall, it is very encouraging that steel prices and stockpiles are finally returning to last year’s levels", it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 07 August 13
HANDIES : FINDING IT DIFFICULT TO SUSTAIN THEIR PREVIOUS LEVELS - KONSTANTINOS KONTOMICHIS
Broker's insight
by Konstantinos Kontomichis,
SnP Broker
Entering the most predictable month of the year, as expected the seasonal effects ha ...
Tuesday, 06 August 13
UNLEASHING SHALE GAS POTENTIAL AS A GLOBAL ENERGY GAME CHANGER
In its 4th year running, the Annual Shale Gas Conference will bring leaders from North American shale gas operators, key Asian regulators, multi ...
Tuesday, 06 August 13
GBCE APPOINTS BENJAMIN WILEY AS NEW MANAGING DIRECTOR
COALspot.com : GB Clean Energy Ltd. (GBCE) announced today that Mr. Benjamin Wiley has been appointed as Managing Director.
Mr. Wiley has ...
Tuesday, 06 August 13
AUSTRALIAN NEWCASTLE PORT'S COAL EXPORTS FALL 23.16 PERCENT ON WEEK TO 2.26 MMT
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 15.8 percent week on week to 2.26 million mt for ...
Monday, 05 August 13
PAPERLESS TRADING (ELECTRONIC BILLS OF LADING) - FREQUENTLY ASKED QUESTIONS ("FAQS") - UK P&I CLUB
A number of Members have contacted the Club with queries regarding the use of electronic bills of lading and any potential consequences for P&I ...
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- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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