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Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping market, in particular dry bulk. According to a note released yesterday by BIMCO's Chief Shipping Analyst, Mr. Peter Sand, "despite being a little down on the 2013 GDP growth of 7.7%, the growth target of 7.5% set by China’s Premier Li Keqiang at his first appearance at China’s annual parliamentary session bodes well for shipping, trade, and commodity demand in 2014".
According to the note, in 2013, Chinese seaborne imports surpassed the 2 billion tonnes, mark according to CRSL. To put that into perspective, it means that China has now more than doubled its imports from one billion tonnes in 2008 to 2.1 billion tonnes in just five years.
Imports of dry bulk commodities dominate the trade by accounting for 74% in 2013. Led by iron ore, which accounts for 39%, the scope of imports become larger and wider every day. Peter Sand, says: “The importance of China to the shipping market is second to none. This goes for all major shipping segments. In spite of leaving the double-digit growth rates behind us in the previous decade, the sheer size of the world’s second-largest economy now gives so much impetus to our industry that we have become addicted to China.”
The announcement of the target, delivered during the 12th National People’s Congress on 5 March, comes after a couple of month where the Chinese economy has shown some weakness in Purchasing Managers Index (PMI) developments. Recent development in Chinese PMI showed an 8-month low in the official PMI, coming in at 50.2 in February. The HSBC China Manufacturing PMI posted at 48.5 in the same month supplements this slowing tendency. Both indexes agree on tougher conditions for smaller and medium-sized enterprises, whereas larger enterprises seem to fend off the headwind rather better. The average of China’s manufacturing PMI for 2013 was 50.2 for the HSBC/Markit indicator, which is more focused on smaller and medium-sized enterprises, whereas the official PMI indicator, which is more focused on the larger enterprises, averaged at 50.8. Going forward, expectations are very positive for both China and the world as such.
Sand went on to add that “a strong shipping market support from China is vital to pave the way back to a future sustainable market. Past contributions have been enormous. If the future holds more of the same, we will continue to see improvements in the fundamental balance between supply and demand”, the shipping analyst concluded. Meanwhile, the dry bulk market continued to make progress, with the BDI (Baltic Dry Index) ending yesterday's session on yet another rise, with the Capesize market stealing the "show" once again. The BDI was up by 89 points to 1,480, with the Capesize Index rising by an impressive 234 points and reaching 2,830 points. Once again, the irregularities have made their appearance, with Supramaxes now trading higher (1,122 points) than their larger counterparts, the Panamaxes (1,056 points).
Meanwhile, in its latest weekly report, shipbroker Fearnley's noted on the Capesize market that "period rates have been improving steadily for some time, however over the last week rates have made some serious jumps. One year fixtures for 180k dwt are expected to be concluded in excess of USD 30k shortly, and Tubarao/Qingdao has in a relatively short period of time improved from sub USD 20 PMT to mid-20s. West Australian iron ore has been fairly unpredictable lately with earlier ships achieving a discounted freight compared to later ships, which is unusual. Now however the prompt positions are again achieving a premium with last done for such a position being USD 10.80. The expectations remain positive and the pace of the recovery in rates seems healthy".
On the Panamax front, Fearnley's said that "the Panamax market is struggling in both hemispheres. The Atlantic market has suffered for several weeks due to an overcapacity of tonnage and lack of fresh cargoes while we now see that the Pacific might be in for the same treat. Pac rounds are paying around 11k at time of writing. In the Atlantic, rounds are being fixed in region of USD 4-5k which is well below OpEx. Fronthauls are also suffering from lack of fresh iron ore and grain business, which again has caused rates to drop down to around USD 15/16k. The period market is surprisingly stable with rates hovering around USD 14k for 11/13 mos. The latter is much influenced by the strong FFA market and expectations for better days to come", the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 14 March 14
US, THE WORLD'S SECOND LARGEST COAL PRODUCER MINED 75.3 MMST OF COAL IN FEBRUARY; DOWN 10.88% M-M
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.7 million short tons (mmst) of coal ...
Thursday, 13 March 14
HANDY: THE FAR EAST MARKET IS IN AN UPWARD TREND - FEARNRESEARCH
Handy
Atlantic is a bit under pressure for spot tonnage, but the underlying sentiment is positive for the short medium future. 2-3 legs are do ...
Thursday, 13 March 14
MARKET INSIGHT - CHRISTOPHER T. WHITTY
By Christopher T. Whitty
Marketing Manager
Cotzias Intermodal Shipping Inc.
During the last year we have noticed that a fair number of ...
Wednesday, 12 March 14
ADARO ENERGY IMPROVES EFFICIENCY AND GENERATED STRONG EBITDA IN 2013
COALspot.com: PT Adaro Energy Tbk, Indonesia's single largest coal miner posted revenue of US$ 3.28 billion and cost of revenue of US$ 2.54 ...
Wednesday, 12 March 14
DGOMC OF INDONESIA REVISED DOWN THE BENCHMARK PRICES FOR COAL BY 4.26% IN MARCH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down the government's declared coal bench mark price ...
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- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- GMR Energy Limited - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
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