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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, 22 April 16
U.S WEEKLY DOMESTIC COAL OUTPUT UP 8.2 PER CENT - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.1 million short tons (mm ...
Thursday, 21 April 16
PANAMAX: A VERY HEALTHY NORTH ATLANTIC FOR BOTH ROUNDS AND FRONTHAUL
Capesize
Correcting after last week's quadrupling.
This year's highest daily average of USD 8000 came on the back of substantial pro ...
Wednesday, 20 April 16
2017 IS EXPECTED TO BE A MUCH BETTER YEAR FOR THE SHIPPING INDUSTRY - INTERMODAL
Some months ago we noted that all projections anticipated 2016 to be a better year from a macroeconomic point of view when compared to 2015. As we ...
Tuesday, 19 April 16
STARS STILL SHINING? KEY IMPORTERS THROUGH THE TELESCOPE - CLARKSONS
As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
Monday, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
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- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
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