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Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
 When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussion over the market’s future prospects is being dominated by the obvious tonnage oversupply, things could very well start to show modest signs of improvement in the demand-side of the market as well.
Dry bulk ship owner Golden Ocean said in its latest quarterly report that “China’s official GDP growth slowed to 6.7% in the first quarter of 2016. In the new five-year plan announced in China in March the target for annual GDP growth during the next five years was set to 6.5%. This is the first time that the target set has been higher than the consensus estimate from various analysts. Although the Chinese authorities are focused on growth from “softer” sectors like services, they still say that no goals should jeopardize social stability or economical prosperity. This could bode for some additional investments in infrastructure projects and fixed asset investments if growth is not kept at an acceptable pace. Moreover, control of infrastructure projects have been taken back centrally to Beijing. March statistics for China showed better economic outlook, as both growth in fixed asset and infrastructure investments as well as new loans all showed signs of improvement. Growth in fixed asset investments picked up from the low in the past three months to 11.2%, the highest since July last year, and growth in infrastructure investments has been on a downward trend in the last two years and dropped to a multi-year low of 8.6% in December last year but ramped up to 22.5% in March. Whether the recovery of growth will remain is of course the big question”, said the shipowner.
Golden Ocean added that “when looking at the various main commodities transported, all of them had a slow start to the year. With low commodity prices and forward curves in backwardation, building down inventories has been preferred to importing new volumes. Imports of coal to China were very low at the beginning of the year at around 13 mt per month, but picked up in March to 19 mt per month, which annualized is at around the same levels as last year. There are some signs of stability, and as many Chinese mines are closing down and imports are a small part of the total volumes, in the shorter term there could also be some upside potential on these numbers. India has had a high local output on coal and also has around 25 days of inventories available and has disappointed those that were most optimistic on India’s substitution of Chinese demand”.
Meanwhile, “grain has been very strong in the first quarter of 2016 with an increase in transported volume of 13% year on-year. In particular long haul distances with exports from Brazil and Argentina has increased massively in the quarter, and this also led to increased waiting times in the ports, while other shorter haul distances have been reduced. The increase in transportation is mainly driven by imports to China. For other minor bulks there has also been an increase in volumes, and for bauxite also in ton miles. Steel products have also stabilized around the levels from last year and these commodities balance the drop in coal and iron ore. With global GDP growth expected to be just above 3% for the next coming years steel production is likely to remain flat. At the same time, the replacement between local Chinese iron ore and imports is still continuing, although at the moment the local production is around 200 mt (62% Fe equivalent) compared to total import in 2015 of 953 mt. Most analysts still believe in slight increase in imported volumes. The larger miners have adjusted down their volumes based on the low prices seen earlier this year, but it is expected that Vale will take a larger portion for the remainder of the year, adding ton mile”, said Golden Ocean.
It concluded by noting that “utilization during the first quarter of 2016 was estimated to be around 78% for the dry bulk fleet overall, with Capesize utilization lower during the worst periods of the quarter. Should the current market environment continue and demand growing at the slow pace as most analysts believe, at the same time as deliveries are postponed or cancelled and scrapping keeps up, utilization will improve slowly over the coming years”.
Source: Hellenic Shipping News
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Monday, 15 August 16
THE SPOT FREIGHT MARKET STRENGTHEN OVER THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose as Cape and Panamax segments ending in a positive no ...
Friday, 12 August 16
U.S. WEEKLY COAL OUTPUT ENDING AUGUST 6 FELL SLIGHTLY
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.9 million short ton ...
Thursday, 11 August 16
CAPESIZE THE PACIFIC SIDE IS LOOKING MORE POSITIVE, DRIVEN BY AUSTRALIAN IRON ORE - FEARNLEYS
Supramax
Rates continue to be under pressure with index ending up with 639 points and average TC value at USD6,680, said Fearnleys. Fearnleys A/S ...
Thursday, 11 August 16
EIA ESTIMATES THE DELIVERED COAL PRICE TO U.S. ELECTRIC UTILITIES IN 2017 AVERAGED $2.24/MMBTU; $0.05/MMBTU HIGHER THAN 2016 ESTIMATES
Coal Supply
U.S. coal production in July was 65 million short tons (MMst), an 8 MMst (14%) increase from the previous month but 11 MMst (15%) low ...
Wednesday, 10 August 16
THE DRY BULK MARKET KEPT SOFTENING LAST WEEK; WE CAN SEE MUCH HEALTHIER NUMBERS STARTING SEPTEMBER
The Dry Bulk market kept softening last week as we have now started going through the traditionally quieter days of the summer season peak period, ...
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- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- The University of Queensland
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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