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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 $54,800/day despite roughly 5 fixtures being reported this week”.
Meanwhile, in shipping finance deals this week as tracked by Golden Destiny, “BW LPG Limited announced that it has signed a Facility Agreement for a debt facility of up to USD400 million for financing seven of its VLGC newbuildings. The financing has been raised from The Export-Import Bank of Korea (“KEXIM”) as Export Credit Agency (ECA) lender, with DNB Asia Limited (“DNB”) and Skandinaviska Enskilda Banken AB (Publ), Singapore Branch, (“SEB”) as Mandated Lead Arrangers and commercial lenders.DNB and HSBC Bank Plc. (“HSBC”) acted as ECA structuring advisors with HSBC also acting as ECA coordinator.
The Facility comprises the following: An ECA tranche of up to USD268 million that is being provided by KEXIM, representing approximately 67% of the facility amount. A Commercial tranche of up to USD133 million, split equally between the two commercial lenders, representing approximately 33% of the facility amount. The debt financing will be secured against seven of the Company’s VLGC newbuildings. The blended margin over LIBOR applicable across all tranches of the financing is 1.70% p.a., and the weighted average amortisation profile will be 18 years”, Golden Destiny concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 23 February 15
Q2' CFR SOUTH CHINA COAL SWAP FOR Q2 ROSE 3.39% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.90 (+3.39%) per MT month over month and declined US$ 0.08 ...
Monday, 23 February 15
Q2' API 5 FOB NEWCASTLE COAL SWAP CLOSED $1 HIGHER THAN Q3
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.12 per MT (+6.44%) month over month and fall US$ 0.43 (-0.83%) w ...
Sunday, 22 February 15
THE BALTIC DRY INDEX LOST ALMOST 3.2% OR 17 POINTS WEEK ON WEEK
COALspot.com: The Baltic Dry Index, one of the economic indicators that monitors the health of the world's economy by tracking the price of shi ...
Friday, 20 February 15
GOVT SET TO INCREASE COAL OUTPUT TARGET THIS YEAR - JAKARTA POST
The Energy and Mineral Resources Ministry is planning to increase its coal output target this year as the government seeks to offset the ongoing de ...
Friday, 20 February 15
U.S. PRODUCED AROUND 19.2 MILLION SHORT TONS OF COAL WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.2 million short tons (mmst) of coal ...
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- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
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