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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, 21 February 14
INDONESIA PLAN TO CAP COAL OUTPUT AND HIKE ROYALTY; START MUSIC
COALspot.com: Energy and Mineral Resources Ministy of Indonesia is planning to increase the royalty for coal miners particularly for Mining Business ...
Friday, 21 February 14
THE WORLD'S SECOND LARGEST COAL MINER MINED 19.2 MMST OF COAL IN A WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, mined approximately 19.2 million short tons (mmst) of coal in a w ...
Friday, 21 February 14
DRY BULK MARKET SHOWS SIGNS OF LIFE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has slowly started to emerge from the downfall it's been since the start of the year, as rates have began to pick up over the c ...
Friday, 21 February 14
INDONESIA COAL OUTPUT CAP TO HURT MINERS RELIANT ON VOLUME GROWTH, FITCH SAYS
Fitch Ratings says that the credit profiles of mining sub-contractors and miners highly reliant on increasing volumes to support high debt servicing w ...
Thursday, 20 February 14
LENGTHY DELAYS TO PANAMA CANAL EXPANSION POSE GLOBAL TRADE RISKS; US COAL PRODUCERS TO GREATLY BENEFIT ONCE COMPLETE, SAYS WOOD MACKENZIE
Wood Mackenzie expects the recent cost overrun disputes around the Panama Canal expansion to be resolved with limited disruption due to the signific ...
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- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Australian Coal Association
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
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