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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 April 16
AUSTRALIAN MINING SERVICES SECTOR SQUEEZED BY MINERS' COST CUTS - FITCH RATINGS
Fitch Ratings says mining services companies' revenues and margins will remain under pressure as miners continue to focus on reducing costs ami ...
Thursday, 14 April 16
DRY BULKERS' PRICES COULD BE HEADING UPWARDS AS BUYERS' APPETITE INCREASES - HELLENIC SHIPPING NEWS
Investment sentiment is beginning to trend upwards in the market for second hand dry bulk carriers. According to the latest weekly report from ship ...
Wednesday, 13 April 16
U.S COAL PRODUCTION IS EXPECTED TO DECREASE BY 16 PER CENT IN 2016; THE LARGEST ANNUAL PERCENTAGE DECLINE SINCE 1958 - EIA
EIA estimates that U.S. coal production in March 2016 was 52 million short tons (MMst), a 2 MMst (4%) decrease from the previous month and 29 MMst ...
Tuesday, 12 April 16
INDONESIA COAL BENCHMARK PRICE INCREASES FOR SECOND STRAIGHT MONTH
COALspot.com: The Indonesia Coal Benchmark Price Increases For Second Straight Month in April 2016.
The Director General of Mine ...
Tuesday, 12 April 16
NO FURTHER SIGNIFICANT COAL PRICE DECLINES IN THE FUTURE - FITCH
COALspot.com: Fitch does not expect further significant coal price declines because producers sector-wide are suffering losses while China and Indo ...
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- Thai Mozambique Logistica
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
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