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Friday, 20 June 14
DRY BULK MARKET LOOKING FOR UPSIDE ON ROBUST SEABORNE IRON ORE TRADE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market hasn’t been able to justify the heightened expectations this year. Yesterday, the Baltic Dry Index managed to inch forward, rising by 35 points to 902 points, on the back of increased Capesize demand. The Baltic Capesize Index (BCI) was up by 152 points to 1,919. The rest of the submarkets thought were once again on the downside, most notably the Panamax market.
According to the latest report from shipbroker Fearnleys, on the Capesize market there were “glimpses of improvement following days of softening, and consequent surge of conficence for the big ships as major miners keep taking july loaders on the important Brazil/China ore route. Average daily earnings are still down some some usd 2k (to usd 12800) w-o-w, but with the present push on fronthaul iron ore, near-term recovery is expected. Volume on the Waust/China trade remains unimpressive, with freight rates struggling to break the usd 8 pmt barrier and tonnage supply in excess. Paper has taken a hit, with period activity consequently being very limited”.
On the Panamax front, Fearnleys noted, “what a week! We are very close to breaking the all time low record and TA ´s are down 62% w-o-w and now fixing at ard Usd 1k and even below 0 at voyage bss. It is simply not enough cargoes and the activity is extremely low. Chrts entering the market with their cargoes are fixing within 20 minutes and owners are probably better off dropping the anchor at this point. In the Pacific we see the same tendency allthough the levels are a touch higher than in the Atlantic. Pac rounds are now being fixed at ard Usd 3,5-4k. Well below Opex. The period market is fairly active and good kamsarmaxes are able to fetch ard Usd 9k for shorter periods over the summer”, said the shipbroker.
Finally, “the Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rates decline with 11,54% w-o-w much caused by a growing tonnage list and few fresh cargoes. The coal and iron ore sales seems to be gone as the majority of cgos being shipped is grains. Also in the Feast the market remains weak even though we see more cargoes entering the market, it is just too many ships competing for the same cgos. Indonesian rounds to Thailand are being fixed at ard Usd 6k + Usd60k GBB bss APS delivery while NoPac rounds are being traded in the region of Usd 9,250+Usd 300k GBB for Supras. Several owners now want to fix out their ships for short periods at a bit healthier numbers than the spot market is showing, but there are not that many takers”, Fearnleys concluded.
Meanwhile, in a note released this week, Commodore Research & Consultancy said that “recently released data shows that average daily crude steel production at China’s key steel mills hit a record high of 1.833 million tons during the first ten days of this month.
Previously, daily crude steel production at China’s key steel mills during the last eleven days of May averaged 1.767 million tons – which was a high level, although down from the previous record of 1.824 million tons seen during the first ten days of May. It is very encouraging that Chinese steel production has set another record this month. As we have continued to stress, Chinese steel production has remained very strong during the last several months. While Chinese steel production normally comes under a small amount of pressure in June (while still remaining at robust levels), it is very encouraging and not surprising that production has set a record this month. As we have been discussing in our Weekly Dry Bulk Reports and Weekly China Reports, demand for steel in China has remained firm as the government continues to green light new infrastructure projects and works towards further stimulating the economy.
In addition, low iron ore prices have allowed profit margins at Chinese steel mills to improve significantly since the start of this year. Global demand for Chinese steel exports has also remained robust, even as global steel production has also set a new record this year”.
It added that “record steel production means record iron ore consumption. Overall, Chinese iron ore consumption has remained robust this year and Chinese iron ore imports have continued to surge. Chinese steel mills continue to purchase a record amount of iron ore imports this year, with Chinese iron ore imports this year up by approximately 20% from last year’s record level. Going forward, Australian and Brazilian iron ore production is set to surge even further and steel mills will continue to happily purchase low-priced high quality iron ore from Australia and Brazil.
At the same time, more Chinese domestic iron ore mines will likely suspend iron ore production as they can’t compete with Australian and Brazilian mines with much lower costs. Seaborne iron ore trade is poised to remain robust”, Commodore concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 26 June 14
COAL DIVESTMENT CAMPAIGNS COME WITH RISKY UNINTENDED CONSEQUENCES - WCA
Last week I presented to the Expert Group on investments in coal and petroleum companies, the body set up to advise the Norwegian Government on whe ...
Wednesday, 25 June 14
INDONESIAN COAL EXPORTS ON RISE; EARNINGS FALL ON LOWER SELLING PRICES
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.84* ...
Wednesday, 25 June 14
THE PANAMAX MARKET REACHED FRESH LOWS FOR THE YEAR, SAYS INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a slight decrease, but this image of stability is merely representative of freight rat ...
Wednesday, 25 June 14
SHIPPING: MARKET INSIGHT - YANNIS OLZIERSKY
During his recent visit in London, China's Premier, Li Keqiang, announced that China's economy, the world's second largest after the US ...
Tuesday, 24 June 14
INDONESIAN COAL MINER TARGETS RP 313 BILLION IPO
COALspot.com: Indonesian coal miner PT Mitrabara Adiperdana is aiming to raise up to Rp 313 billion to Rp 368 billion (approximately $26.133 millio ...
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- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
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