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Saturday, 02 November 13
DRY BULK SHIPPERS AREN'T CELEBRATING, BUT THEIR SILENCE IS GOLDEN - MARKET REALIST
In October, performance for major dry bulk shipping companies was mixed. Companies like DryShips Inc. (DRYS) had pulled back more than Diana Shipping Inc. (DSX), while a few like Safe Bulkers Inc. (SB) and Navios Maritime Holdings Inc. (NM) were able to hold onto gains in August and September.
Recap of this week’s key indicators
Despite recent sell-offs, the medium-to-long-term outlook of the dry bulk shipping industry hasn’t changed. Rising ship orders continue to reflect managers’ optimism, and the construction level is slowing down, which means future capacity growth will be lower. Higher scrapping activity likely reflects short-term weakness. But if the long-term trend holds, we should see scrapping activity come down soon.
While early shipments of iron ore led to an earlier peak in shipping rates, and shipping rates (Capesize in particular) have fallen in October, the dry bulk trade should continue to grow into 2014. Falling iron ore prices will reflect new iron ore production rather than weaker demand, which will support iron ore trade.
Despite higher iron ore inventory in China, it remains significantly below the long-term trend line, suggesting room for further purchases of iron ore over the medium to long term. In the short term, we can face headwinds because the interest rate in China has risen and credit is tighter than before. Because holding iron ore at ports costs money, tighter credit and higher interest rate is a short-term headwind. It’s important to be cautious, but it’s also key not to get scared. With steel price in China near the long-term support, the government would likely step in to support the economy if it faltered.
Silence is golden
As dry bulk shipping rates have fallen, so has the mention of dry bulk shippers in the news. But silence is golden. It’s times like this, when nobody is saying anything, that investors are slowly building positions and advancing like silent troops in the night. As long as these trends remain positive, we should see dry bulk shipping companies deliver positive returns over the next few months and quarters.
For those who missed last week’s series that contained several indicators about China’s economic activity, see Weekly trends that affect dry bulk shipping companies’ future.
economic activity, see Weekly trends that affect dry bulk shipping companies’ future.
Source: Market Realist / Hellenic shipping news
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Friday, 18 October 13
DRY BULK MARKET ON "PAUSE" MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on "pause" mode over the past week, after China's return from the week long holidays. The industry's benchm ...
Friday, 18 October 13
US PRODUCED 6.7% MORE COAL W-W
COALspot.com – United States the world’s second largest coal producer produced approximately 18.9 million short tons (mmst) of coal in a ...
Thursday, 17 October 13
CAPESIZE: RATES ARE AGAIN MOVING UPWARDS - FEARNRESEARCH
Handy
Activities were obviously slowed down in the Pacific basin. There were only few coal movements which fixed around USD 15-16k for ships in Sin ...
Thursday, 17 October 13
SGX TO LAUNCH "SGX THERMAL COAL FUTURES" NEXT MONDAY
COALspot.com: SGX is to launch two thermal coal futures contracts, SGX API 8 CFR China Coal Index Futures and SGX IHS McCloskey Indonesian Sub-bit F ...
Thursday, 17 October 13
CHINA'S COAL IMPORTS DOWN 9.4% TO 25.96 MMT IN AUGUST
COALspot.com: China's August Imported coal volumes down 9.4% m-m but up 27% y-y, BNP said in its latest China Coal & Power report released on 1 ...
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- Kalimantan Lumbung Energi - Indonesia
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- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
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- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
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- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
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- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- PTC India Limited - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
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- The University of Queensland
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
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