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Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the looming rally. According to the latest monthly report from shipbroker Intermodal, “it has without a doubt been “a cruel, cruel summer” for the dry bulk market so far and with second hand values still standing high com-pared to last year, the anticipation for the freight market to recover, feels a bit more intense than usual. So what could Q4 be holding for dry bulkers? Are we in for a similar end of year surge like the one witnessed last year”, wondered Eva Tzima, Research Analyst with Intermodal.
According to the analyst, “in the case of the Capesize segment, all eyes are currently turned on China and the iron ore trade. In the beginning of the month, stock-piles at the country’s ports stood at record high levels. Although high levels of iron ore inventory usually reflect that strong steel production is anticipated, it doesn’t look like this is the case here. While steel production levels have been kept high throughout the first half of 2014, profits for the steelmaking industry have been sluggish. This most likely means that production remained at high levels through-out the year due to the Chinese government’s efforts to sustain growth with direct investments in the industry and in anticipation of greater future demand, a demand which has yet to be witnessed”.
Tzima added that “the continuously declining price of the commodity, which in June reached its lowest level since September 2012 has also sustained port inventories at high levels, despite the fact that end demand wasn’t keeping up pace. If we look back in the summer of 2013 things were dramatically different, with port inventories standing well below the historical average, at around 70 million tonnes, compared to 113.65 million tonnes a few weeks ago. Since the restocking started in September of 2013, inventory levels have been on an upward trend, currently leaving little space for aggressive imports and even less room for Cape rates to thrive in the same way they did during the last quarter of last year.
Moving on to the smaller size segments, the upcoming grain season is what the market is currently focusing on and it looks like grains might come to the rescue this year as well. Europe has been witnessing excessive rainfall lately and as a result, the harvest, in France, Germany and other traditional grain producers, is being delayed and its quality jeopardized” she noted.
According to Intermodal’s analyst, “this means that the EU will have to intensify its imports and consequently help seaborne trade volumes, with business in the Black Sea being the first beneficiary in line. In fact, Russia is currently exporting wheat at record pace, as despite sanctions short term finance has not been affected and therefore wheat trade is not being obstructed. Ukraine’s exports are also due to keep the Black Sea busy, while both countries are experiencing a near record harvest”.
Meanwhile, “moving on to the other side of the Atlantic, the US has been con-firming that a bumper harvest is expected, while at the same time prices for the US grains have been fairing at very attractive levels. Similarly to the last quarter of 2013, it looks like Brazil will once again play an important role in the performance of the USG business in the following months. The country has temporarily eliminated the Common External Tariff, which is traditionally imposed on imports from non-Mercosul countries. An identical policy was set last sum-mer, just in time before North American wheat cargoes en-route to Brazil started flooding the USG and pushing rates for the geared sizes up. With Brazil being uncertain as to whether Argentina would be able to satisfy this year’s demand either, the country has again distanced itself from its traditional wheat supplier and a similar rec-ord volume of US imports is anticipated this year as well”, she noted.
Tzima concluded that “so it could well be the case that during Q4 we end up witnessing a market of two speeds, with the performance of the Capesize market lugging behind that of the geared sizes, as China appears to have turned its back on Capers for now. We are always in for a good surprise that could come in the form of stronger stimulus by the Chinese government or an upward revision of global growth. Any hypothesis aside though, my sense is that we have hyper inflated our expectations for the last quarter of the year, in the same way we did at the end of 2013 for the entire 2014, while in terms of tonnage performance; bigger might not be better this fall”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
Thursday, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
Monday, 18 August 14
SUB-BIT FOB INDONESIA COAL SWAP CLOSED AT $58.60 FOR SEPTEMBER 2015; UP $4 FROM SEPTEMBER 2014 CLOSING
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.27%) day on day and US$ 0.75 (-1.36%) per mt week on week. Th ...
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- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
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