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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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- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- The University of Queensland
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
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