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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 $54,800/day despite roughly 5 fixtures being reported this week”.
Meanwhile, in shipping finance deals this week as tracked by Golden Destiny, “BW LPG Limited announced that it has signed a Facility Agreement for a debt facility of up to USD400 million for financing seven of its VLGC newbuildings. The financing has been raised from The Export-Import Bank of Korea (“KEXIM”) as Export Credit Agency (ECA) lender, with DNB Asia Limited (“DNB”) and Skandinaviska Enskilda Banken AB (Publ), Singapore Branch, (“SEB”) as Mandated Lead Arrangers and commercial lenders.DNB and HSBC Bank Plc. (“HSBC”) acted as ECA structuring advisors with HSBC also acting as ECA coordinator.
The Facility comprises the following: An ECA tranche of up to USD268 million that is being provided by KEXIM, representing approximately 67% of the facility amount. A Commercial tranche of up to USD133 million, split equally between the two commercial lenders, representing approximately 33% of the facility amount. The debt financing will be secured against seven of the Company’s VLGC newbuildings. The blended margin over LIBOR applicable across all tranches of the financing is 1.70% p.a., and the weighted average amortisation profile will be 18 years”, Golden Destiny concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 02 March 15
FOB NEWCASTLE COAL SWAP ROSE 6.89% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.35 per MT (+6.89%) month over month and US$ 0.40 (0.78%) week on ...
Sunday, 01 March 15
BDI INDEX SLIGHTLY UP CAUSED AN INCREASE IN THE PANAMAX, SUPARAMAX AND HANDY SIZE INDICES
COALspot.com: The freight market saw some gains this week and BDI was up 5.26 pct closed at 540 points. However the Cape index failed to follow BDI ...
Friday, 27 February 15
WEEKLY US COAL PRODUCTION DOWN AN ESTIMATED 14.0% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 16.5 million short tons (mmst) of coal ...
Thursday, 26 February 15
COAL POLICY RISK: HIGHER ROYALTIES FOR IUP HOLDERS - BAHANA SECURITIES | JAKARTA POST
The Energy and Mineral Resources Ministry plans to raise coal royalties charged to mining operation permit (IUP) holders by the end of the first qu ...
Thursday, 26 February 15
DRY BULK MARKET LOOKING FOR POSITIVE MOMENTUM, BUT PROSPECTS REMAIN DIM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the Baltic Dry Index (BDI) inched a bit higher over the past couple of sessions and the Chinese are returning to the market after a week long hi ...
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- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
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