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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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Friday, 05 August 16
CAPESIZE : RATES ARE REMAINING AT DEPRESSING LEVELS DUE TO LACK OF FRESH CARGOES - FEARNLEYS
Supramax
Last week has been one of the slowest for some time with rates under pressure in most areas.
In its latest weekly report, shipbroke ...
Thursday, 04 August 16
INDONESIAN COAL PRICES ARE STARTING TO ZOOM HIGHER; HBA ROSE 10.13% TO US$ 58.37 PER TON
COALspot.com: The Indonesia coal benchmark price hits to its highest level since August 2015.
The Director General of Mineral and Coa ...
Thursday, 04 August 16
BREXIT: IMPLICATIONS FOR GLOBAL SHIPPING AND SEA TRADE - EVERSHEDS
The buzzword for the post-Brexit landscape both in Europe and further afield is ‘uncertainty’. No-one really knows the long term effect ...
Wednesday, 03 August 16
RECAAP INFORMATION SHARING CENTRE ISSUES SPECIAL REPORT ON THE ABDUCTING OF CREW FROM SHIPS IN WATERS OFF EASTERN SABAH AND SOUTHERN PHILIPPINES - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In the light of three incidents where the crew of tug boats were abducted in the waters off Eastern Sabah and Southern Ph ...
Wednesday, 03 August 16
SHIPPING MARKET INSIGHT - EVA TZIMA
The Good…
Demand. Amidst all the unprecedented geopolitical turmoil and shifts in the likes of Brexit, the IMF lowered last month its glob ...
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- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
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