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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, will not face a hard landing and will maintain a medium/high growth for the long run! Beijing has set a minimum 7.5% annual growth. Mr Li, refrained from rolling out any strong stimulus package to support his government’s target, and instead said that policy will focus more on “targeted measures” to secure and ensure a sustained rate in the future. The Chinese economy expanded 7.4% in the first quarter of the year, down from an increase of 7.7% in the fourth quarter of last year.
IMF's forecast for 2015 is around 7% which is lower than the government's long run target of 7.5%, so it will be interesting to see what Beijing will do to contradict the “Cassandras”. Decreased demand for coal and iron ore, together with a depressed grain season is mostly responsible for today's market levels. The BDI at the timing of writing stands at 867 points, led by the weakest panamax rates seen over the past 20 months.
During the first half of the year, iron ore imports by China fell largely due to seasonality. Additionally to this, stockpiles at Chinese terminals, which have provided a safety valve in an oversupplied market by restocking the commodity, are currently very close to cover their physical storage capacity, hence further restocking can only be done to a limited extent. These facts, together with the “colossal” supply of tonnage, have put pressure on rates for capes and panamaxes.
On the other hand, iron ore trade in the second half of the year and especially fourth quarter is expected to pick up due to the seasonality of the trade. This together with the fact that shipments out of Brazil have yet to break out of their previous highs and have only recently shown signs of strength, can provide a great support for rates. This is also important because shipments from Brazil take much longer to deliver than shipments from Australia, therefore adding more tonne-miles to the mix. So if iron ore exports out of Brazil do rise out of their sideways trend for 2014, a much larger number of Capesize and Panamax vessels should be demanded over the long term, something which should eventually lead to a spike.
On the smaller sizes, South American grain season was off to a slow start. Traditionally exports from Brazil and Argentina tend to rise in April and start cooling off in July. April's exports this year stood at 12mil tonnes compared with the 16mil tonnes last year. One could say that economic issues in Argentina and its depreciated currency could have influenced farmers in keeping their crops in order to sell them at a later date. This remains to be seen, however for the time being a poor grain season has put a lot of pressure on smaller sized vessels. North America's crop output this year is expected to be high, however it usually peaks from September onwards, hence the impact shall not be seen over the summer.
Weak charter rates and poor market sentiment paired with over inflated asset values, has led to a slowdown in activity in the second hand and new building markets. The price gap between Sellers’ and Buyers’ ideas has become wider with many Sellers having decided to withdrawn their assets from the snp market and possibly return sometime during Q3-Q4, believing that by then freight rates will have recovered and hence asset prices will have firmed. This is definitely a risky decision for those who want/have to sell because if the market doesn't recover by the end of the year as most expect, then the pressure will be much more on the Sellers’ side and therefore they will have to bridge the gap by moving down to Buyers’ ideas and offering even bigger discounts off last dones than those currently required.
Analysts:
Mr. George Lazaridis
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Monday, 14 July 14
SGX CFR SOUTH CHINA COAL SWAP FOR Q3' 14 LOST 17.29% SINCE EARLY JANUARY 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. API 8 CFR South China Coal swap for delivery in Q3 drops U ...
Sunday, 13 July 14
PANAMAX INDEX GAINS SLIGHTLY THIS WEEK; CAPE INDEX FALLS ALMOST 21.40%
COALspot.com: This week the freight market fell again after gaining last week. The cape index was down almost 21.40 pct and closed at 1465 points.
...
Friday, 11 July 14
EUROPE HAS A SUBSTANTIAL SURPLUS IN COAL SUPPLIES; RENEWABLE ENERGIES ARE REDUCING THE FULL-LOAD OPERATING HOURS OF HARD COAL-FIRED POWER PLANTS - VDKI
COALspot.com: General conditions for coal-fired power plants must be improved if the energy turnaround is to be a success, said German coal importe ...
Friday, 11 July 14
DR.CIESLIK RE-ELECTED AS CEO OF GERMAN COAL IMPORTER ASSOCIATION (VDKI)
Press Release : Dr Cieslik re-elected as CEO of German Coal Importer Association (VDKi) for the period 2014 – 2018. The German Coal Importer ...
Friday, 11 July 14
PORT OF NEWCASTLE SHIPPED $ 1.031 BILLION WORTH OF 11.744 MILLION TONS OF COAL IN JUNE 2014
COALspot.com: Port of Newcastle has shipped 11,744,396 tons of coal for the month ended 30 June 2014. According to Port’s monthly report, YTD ...
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Showing 3606 to 3610 news of total 6871 |
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- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- The University of Queensland
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
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