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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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Thursday, 28 July 16
FITCH RAISES CORPORATE OIL PRICE ASSUMPTION FOR 2016 TO USD42
Fitch Ratings has raised the 2016 oil price assumptions it uses when rating energy-sector corporates, but expects record high inventories to slow a ...
Thursday, 28 July 16
LAST WEEK ENDING UP WITH BUSIER TONES FOR SUPRAMAXES NOW COOLING DOWN - FEARNLEYS
Supramax
Last week ending up with busier tones for Supramaxes now cooling down as with index being down to 684. Average daily earnings for Supram ...
Wednesday, 27 July 16
RATES FOR THE SMALLER SIZES OVER-PERFORMED THE MARKET LAST WEEK - INTERMODAL
The decline the BDI noted last week was somewhat expected given the fact that the market has been overall firming for almost a month no ...
Wednesday, 27 July 16
GLOBAL OIL SUPPLY IS EXPECTED TO REMAIN HIGHER THAN GLOBAL CONSUMPTION IN 2016 - CHRISTOPHER WHITTY
Global oil supply is expected to remain higher than global consumption in 2016, keeping oil prices at relatively low levels this summer compared wi ...
Tuesday, 26 July 16
NORTH P&I CLUB EXPLAINS HOW TO AVOID CLAIMS FOR SELF-COOKING SOYA BEANS
KNOWLEDGE TO ELEVATE
North P&I Club has advised its members to be extra vigilant during loading and transport of soya beans to ensure they ...
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- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
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