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Thursday, 26 February 15
DRY BULK MARKET COULD REBOUND FROM HISTORICAL LOWS IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market could exit from its historical lows in the coming weeks, as Chinese buyers reenter the market after the holiday celebrations. This is already evident from the iron ore fixture activity. According to the latest report from shipbroker Golden Destiny, “Chinese iron ore fixture volume shows solid levels. According to Commodore Research, there is an increase in Chinese iron ore fixture volume with 26 vessels being chartered to haul iron ore to Chinese buyers last week, 5 more than the previous week and 3 more than the trailing four week average”.
The Piraeus-based shipbroker added that “fixture volume has remained moderately above the relatively low volume seen in early January. Meanwhile, Chinese steel production remains under serious pressure as recently data from the China Iron and Steel Association shows that average daily crude steel production at China’ key steel mills totaled 1.69 million tons during January 21 to January 31. This is the same level that was reported by CISA from January 11 to January 20 and the lowest seen since late November. In the thermal coal market, Chinese fixture volume is not so strong as in the iron ore market 4 vessels were chartered to haul spot thermal coal cargoes to Chinese buyers last week, 3 less than was chartered during the previous week and 1 less the trailing four week average. Overall, demand for imported thermal coal remains well below the peak level last seen in January 2014. One more negative factor in the coal market with a dismal influence on the panamax segment is that India’s power plant coal stockpiles have increased further this week and now exceed the stockpile level seen a year ago. At present, approximately 18.6 million tons of coal is stockpiled at Indian power plants. This is 100,000 tons more than was stockpiled a year ago”, said Golden Destiny.
It also mentioned that “the levels of BDI could not found support from any vessel size and ultramax newbuilding deliveries have an intense downward effect on the performance of panamax and handymax markets. The Chinese iron ore fixture volume fuels some hopes for better returns in the capesize segment after the end of Chinese New Year, but there is still high uncertainty for the performance till the end of the first quarter of the year. Currently, a positive sign of these days is that there is a decrease in Chinese iron ore port stockpiles and approximately of 93 mil tons of iron ore is now stockpiled at Chinese ports, down year-on-year by 5.5 million tons (-6%). Iron ore price persists at record 6 years’ low of $62/ton as Chinese iron ore appetite is holding back due to Lunar New Year”.
It’s also noteworthy that the LNG segment is in similar mode. “LNG spot rates remain in the doldrums, while there are market indications about LNG carriers being laid up around Singapore. According to shipping data on Thomson Reuters, seven tankers have been sitting idle off the east coast of Johor, Malaysia, for over two weeks, and another two ships have been anchored south of Batam, Indonesia, for several months. Half a dozen LNG tankers are in Singaporean docks. The 15 ships have a combined capacity to carry 2.26 million cubic metres of LNG, about two weeks worth of Singapore’s gas demand. LNG spot rates have now declined to $54,800/day despite roughly 5 fixtures being reported this week”.
Meanwhile, in shipping finance deals this week as tracked by Golden Destiny, “BW LPG Limited announced that it has signed a Facility Agreement for a debt facility of up to USD400 million for financing seven of its VLGC newbuildings. The financing has been raised from The Export-Import Bank of Korea (“KEXIM”) as Export Credit Agency (ECA) lender, with DNB Asia Limited (“DNB”) and Skandinaviska Enskilda Banken AB (Publ), Singapore Branch, (“SEB”) as Mandated Lead Arrangers and commercial lenders.DNB and HSBC Bank Plc. (“HSBC”) acted as ECA structuring advisors with HSBC also acting as ECA coordinator.
The Facility comprises the following: An ECA tranche of up to USD268 million that is being provided by KEXIM, representing approximately 67% of the facility amount. A Commercial tranche of up to USD133 million, split equally between the two commercial lenders, representing approximately 33% of the facility amount. The debt financing will be secured against seven of the Company’s VLGC newbuildings. The blended margin over LIBOR applicable across all tranches of the financing is 1.70% p.a., and the weighted average amortisation profile will be 18 years”, Golden Destiny concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 05 March 15
INDIA WILL BE THE LARGEST DRIVER OF GLOBAL SEABORNE COKING COAL DEMAND GROWTH IN 2015 - WOOD MACKENZIE
Global demand growth will remain weak because of China’s negative demand growth.
COALspot.com: At Coaltrans India, Wood Mackenzie says I ...
Thursday, 05 March 15
BUKIT ASAM BOOKED US$ 1 BILLION REVENUE IN 2014
COALspot.com: Indonesian publicly listed and state owned coal miner PT. Bukit Asam, has announced that, the revenue of the company for the period J ...
Wednesday, 04 March 15
AN AGENDA FOR CHANGE - FITCH INDONESIA CONFERENCE
Fitch Indonesia Conference - 5 March 2015
Fitch Ratings will host its annual Indonesia conference on 5 March 2015.
The theme of this year ...
Wednesday, 04 March 15
KEEP CALM AND INVEST IN DRY - THEODORE NTALAKOS
Keep Calm and Carry On was originally a motivational poster, intended to raise the morale of the British public, produced by the British government ...
Tuesday, 03 March 15
INDONESIAN COAL EXPORT VOLUME TO DECLINE 50% BY 2019
COALspot.com: The Indonesian government is planning to reduce coal export volume by 50% within the next five years while keeping its coal productio ...
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- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
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