We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Saturday, 24 May 14
DRY BULK MARKET'S RECOVERY IS JUST AROUND THE CORNER SAYS SHIPOWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Despite the weaker than expected market sentiment in the dry bulk market over the course of the past few months, analysts and shipowners alike appear optimistic about a sustainable recovery of the market going forward. According to Friday's report from dry bulk shipowner Golden Ocean, "even though second quarter spot market so far has been weaker than predicted by most analysts following the sector, earnings have still been better than for the same period last year.
The Capesize earnings has year to date been $14,650 /day, compared to $5,650/day for the same period last year. In 2013 the dry bulk market started its recovery in June and gained more momentum from August onwards. From a demand perspective it is expected that new iron ore supply coming on stream will be the main driver over the next two to three years. From 2014 through 2016 as much as 280 million tons additional supply will become available for the global steel industry", said Golden Ocean.
In its market outlook the company noted that "analysts following the Chinese steel industry are expecting lower steel production growth. This is based on the assumptions of lower GDP growth and a gradual change from heavy infrastructure projects and construction to a more consumer focused growth model. In spite of a slower steel production growth analysts believe that demand for iron ore will continue to grow at a steady pace. With all the new capacity entering the market is likely that international iron ore prices will come under even stronger pressure. Consequently a major portion of the domestically produced iron ore which is both more expensive and with an inferior quality could potentially be ousted.
Meanwhile, the ordering of new vessels has been quite brisk. But given that most orders that have been placed lately are for second half 2016 onwards, the supply growth next eighteen months is not expected to exceed five per cent per annum. Most shipping analysts believe that demand growth will be around six per cent per annum and thereby outpace supply growth, leading to a higher utilization of the dry bulk fleet through 2015", Golden Ocean noted.
In its analysis of the dry bulk market so far in the year, the company said that "the second biggest economy in the world continued to make the headlines during first quarter of 2014. China has become the favorite of concerns among many observers analyzing the macroeconomics. The importance for the dry bulk industry is well known and China contributed with 83 per cent of global dry bulk growth, or 200 million tons in pure volume growth, during 2013. Chinese GDP grew by 7.4 per cent during the first quarter which was in line with expectations. In addition to the positive development in the U.S., several of the European economies showed signs of recovery. On the back of this EU increased its steel
production by 6.7 percent compared to same quarter in 2013.
The global steel industry and energy coal for utilities are accounting for about 70 percent of seaborne dry bulk transportations and both coal and iron ore volumes increased during first quarter. China imported 240 million mt of iron ore during the first quarter. This is 20 per cent more than the same quarter last year. Coal imports to China came in at 71 million mt or 9.5 per cent more than the first quarter of 2013. Japan imported 49.5 million mt of coal, which again represented an increase of about 9 per cent. Preliminary data is indicating an overall volume growth in seaborne dry bulk trade of 6 per cent for the first three months of 2014
against a net fleet growth of about 5 per cent", it noted.
DRY BULK MARKET TONNAGE TRENDS
According to Golden Ocean, about 16 million dwt of new capacity was delivered and 3.5 million dwt was scrapped during first quarter. Delivery ratio, versus what should have been delivered according to the official order book, is slightly higher this year compared to the previous five years. The main reason is that the current order book has a higher percentage of good quality yards where orders are delivered in time. About 25 million dwt were ordered during the first quarter, almost twice as much as the same quarter last year, but still 10 million dwt less than the fourth quarter of 2013. The order book represents 19 per cent of the total dry bulk fleet.
Capesize vessels earned on average $16,300 per day during the first quarter, and experienced strong volatility ranging from $7,900 per day to $35,000 per day. Panamaxes earned on average $10.425 per day with less volatility. The market performed better than most forecasters predicted, given that iron ore stockpiles in the major Chinese ports were high by the end of last year. However de-stocking did not take place and stocks remained unchanged during the quarter. We have witnessed some draw down of inventories in recent weeks and the Capesize spot market in particular has reacted accordingly.
Expectations for an upturn in earnings were high through most of the first quarter. This was reflected in the Forward Freight Curve which was in contango, in particular for the second half of 2014. Due to the fact that spot earnings surprised on the upside in combination with a positive sentiment, asset values continued to trend higher in the three first months of the year. The value of a five year old Capesize was up 10 per cent for the quarter and according to broker estimates was worth $48 million, while a five year old Panamax was up 7.5 per cent first quarter and was estimated to be worth $29 million by the end of March 2014.
In April 2014 both spot and forward markets have been under pressure, but most analysts remain confident that the fundamentals should cater for a market upswing within the next few months", the company concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 26 May 14
SUB-BIT FOB INDO COAL SWAP Q1' 15 DELIVERIES CLOSED AT US$ 59.40 PER MT
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 26 May 14
Q3 14 CFR SOUTH CHINA COAL SWAPS LOST 2.24% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.24 percent month on month and closed at US$ 73.88 per mt as on F ...
Monday, 26 May 14
NEWBUILDING ORDERING ACTIVITY RISES BY 78% IN DWT TONNAGE OVER THE FIRST 4 MONTHS OF THE YEARS, AS OWNERS INVEST$40.5 BN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have plunged into newbuilding orders during the first four months of the year, as overall newbuilding business ended for the first four ...
Sunday, 25 May 14
FREIGHT RATES FROM SOUTH KALIMANTAN TO EAST COAST INDIAN PORTS WERE ASSESSED AT $9.50/MT
COALspot.com: The BDI was closed at 964 points down by 6.13 pct week on week. The Cape Index was lost 172 points or 11.24% week on week and closing ...
Friday, 23 May 14
U.S. WEEKLY COAL PRODUCTION SLIPS 1.8% WEEK ENDED MAY 17, 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
|
|
|
Showing 3686 to 3690 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
|
| |
| |
|
