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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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Monday, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
Friday, 07 March 14
INDONESIA TO PRODUCE 421 MMT OF COAL IN 2014
Coalspot.com: Indonesia finally agreed to increased 2014 coal output by as much as 6 percent to 421 million metric tons from its previous plan, a se ...
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- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Australian Coal Association
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
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