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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, 07 March 14
US PRODUCED 19.4 MMST OF COAL IN PAST 7 DAYS, SAYS EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.4 million short tons (mmst) of coal in ...
Thursday, 06 March 14
PANAMAX MARKET IS STRUGGLING IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
The Handy/Supra market experienced a rate increase in the Pacific. The activity itself is not too big, but spot tonnage is clearing up and ow ...
Wednesday, 05 March 14
THE BIG BULKERS HAVE IN FACT WITNESSED SIGNIFICANT IMPROVEMENTS IN BOTH BASINS
The BDI continues to gain back some of the lost ground, although in reality there isn't a lot to celebrate abou ...
Wednesday, 05 March 14
LEAVE IT TO CAPES TO CHANGE THE DIRECTION OF THE DRY BULK MARKET - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
Leave it to Capes to change the direction of the Dry Bulk market. The big bulkers managed to drag the BDI ...
Tuesday, 04 March 14
AUSTRALIA'S NPC TO SHIP 11.85 MMT OF COAL IN MARCH
COALspot.com: In the week ended 3 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 3.15 m ...
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- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
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