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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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Thursday, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding orderin ...
Tuesday, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
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- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
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