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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, 14 July 16
SHIPPING'S HALF YEAR REPORT - 'MUST DO BETTER' - CLARKSONS
It’s the time of year, with the school holidays and end of term approaching, that many pupils will nervously take home their school reports t ...
Wednesday, 13 July 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 15 MMST IN 2016 AND BY 4 MMST IN 2017
COALspot.com: U.S. coal production in June was 57 million short tons (MMst), a 6 MMst (13%) increase from May and 9 MMst (14%) lower than in June 2 ...
Wednesday, 13 July 16
2015 VS. 2016; THE DRY BULK DEMOLITION DERBY - JOHN N. COTZIAS
In the first half of the year 373 Bulkers and General Cargo ships were scrapped representing 23.8mil tons of dwt carrying capacity.
Comparing ...
Tuesday, 12 July 16
DUE TO LONG HOLIDAYS, CS COAL INDICES HELD AT THE SAME LEVEL OF THE PREVIOUS WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was flat week over week to averaging $39.98 per ton this past week.
Due to the ...
Monday, 11 July 16
COAL MARKETS SAW IMPROVED PRICES IN H1 2016 - SGX'S COMMODITIES MID-YEAR REFLECTION
COALspot.com: Coal
Coal markets saw improved prices in H1 2016 with the benchmark coking coal and thermal coal spot prices rising 18% and 25%, re ...
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- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Minerals Council of Australia
- PTC India Limited - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- The University of Queensland
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Planning Commission, India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
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