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Wednesday, 24 June 15
PANAMAXES: THE OUTLOOK REMAINS NEGATIVE AS DEMAND FOR COAL IS DIMINISHING - YANNIS OLZIERSKY
 As we get closer to the end of June, we can safely say that the 1st half of the year is leaving the dry bulk market with a bitter taste that we all wish to forget. The BDI was fluctuating around its lowest point ever recorded for the entire first half. The last two weeks though have given a much needed lift to the market, which nonetheless will need further momentum to make some actual difference in both sentiment and returns. Whether this momentum will be found in order to stabilize market rates at least above OPEX, is something that is hard to predict. However, and since we are coming out of the "dusk" of H1 and slowly moving towards the "dawn" of H2, a recap in titles could be of interest to our readers.
Starting with Capers, levels are currently at the highest point since January. With the Chinese iron ore inventories at their lowest point since November 2013 and with the price of iron ore at slightly above $60/ton, a mild recovery in terms of traded volume is expected. On the supply side, heavy demolition activity in H1 (more than 10mill dwt have been demolished since the beginning of the year) together with slippage, cancellation and conversions of dry bulk orders to tankers or containers, is restricting the growth of an already oversupplied market. On the other hand, China’s decision to support Vale’s iron ore expansion plan, may lead to an increase in iron ore supply. One would think that such decision would help the market recover on the back of tonne miles increase, however since most of Vale's transported iron ore will be shipped in Valemax ships the positive effect on rates will be hard to materialize.
On the Panamaxes, although rates have not seen today's levels since December 2014, the outlook remains negative as demand for coal is diminishing. Environmental concerns in many nations and especially in China have pushed towards usage of cleaner resources of energy. As a result, coal imports have declined significantly YoY and a revival is hard to be expected despite the fact that other big economies like India are increasing demand but doing so in a more moderated level. On the other hand, some support could be founded in the grain market on the back of the increased production of exporting countries like US, Canada and Brazil.
On the smaller sizes, Supramaxes have found support in the Atlantic thanks to grains and petcoke cargoes. India's high petcoke imports from the US have helped increase tonne miles in the sector, while in the Pacific, rates are also correcting upwards on the back of bauxite and nickel ore imports, with China being behind most of the latter. Handysizes are also trying to take advantage of the increase of shipments of both grains and other minor bulk commodities, however the impact on freights is moderate as charterers prefer to use bigger vessels for the transportation of commodities, especially for the Transatlantic trade.
In general, the market is being in doldrums and nothing exciting should be expected during the next couple of months, some spikes could give glimpses of hope. However, the next big thing will most probably be the fourth quarter of this year, a time when the market is traditionally advancing. What will happen this year remains to be seen with great interest. Therefore from the “dusk” of H1 till the “dawn” of the H2 nothing really crazy should be expected, apart maybe from some humans turning into vampires somewhere in a bar close to the Mexican borders...
By Yannis Olziersky
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
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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Wednesday, 15 July 15
SAS TO BUILD 108 KM ROAD FOR COAL IN JAMBI, SAYS JAKARTA POST
Jambi Governor Hasan Basri Agus said on Sunday that mining company PT Sinar Anugerah Sukses (SAS) would develop a 108-kilometer road with a width o ...
Wednesday, 15 July 15
ANY FUTURE IRAN OIL DEAL WILL BOOST SUPPLY FUNDAMENTALS WITH TANKER OWNERS HOPING FROM TEHRAN TO QUICKLY BOOST ITS PRODUCTION
With the Greek “Euro-drama” apparently over, at least for now, Iran’s oil deal still remains elusive, with any potential agreemen ...
Tuesday, 14 July 15
FOB NEWCASTLE COAL SWAPS MAINTAIN OVERALL NEGATIVE TONE THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.02 per MT (-2.23%) month over month to US$ 44.68 per mt. The swap ...
Tuesday, 14 July 15
CFR SOUTH CHINA COAL SWAPS DECLINE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 1.47 (2.82%) per MT month over month.
A commodity swap ...
Monday, 13 July 15
THERMAL COAL IMPORTS SOAR 23 PER CENT TO 24.08 MILLION TONNES AT 12 MAJOR INDIAN PORTS
Import of thermal coal jumped 23 per cent to 24.08 million tonnes at 12 major ports in the first quarter of the fiscal, even as the government cont ...
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Showing 2926 to 2930 news of total 6871 |
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- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- The Treasury - Australian Government
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Planning Commission, India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
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