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Wednesday, 03 December 14
CAPESIZE DRY BULK CARRIERS ENTER 2015 WITH MIXED FORTUNES, WITH A POSITIVE AND A NEGATIVE SCENARIO BOTH EMERGING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The future of the Capesize dry bulk market appears to be engulfed from mixed “feelings” among analysts and market participants, despite the fact of the relatively positive performance of late. The “pessimists”, as described by shipbroker Allied Shipbroking’s latest weekly report, are negative regarding the future prospects of the Capesize market, at least during the first half of 2015, while things are not looking much better for 2015 as a whole. According to Mr. George Lazaridis, Head of Market Research & Asset Valuations, the arguments expressed claim that “with the steel industry being considerably shaken up after the softer results witnessed out of China throughout the year, the market has found itself once again plagued by overcapacity in terms of vessels and excess supply of steel products, possibly marking a further slowdown in steel production growth. Having now en-ered the final month of 2014 and with rates in the final quarter of the year having grossly disappointed the expectations that had accrued from the more promising final quarter of 2013, the market has now been left in shatters in terms of market sentiment, while the headache of the excessive order book continues to loom in the horizon”.
By contrast, those who voice more optimistic views, say that things could very well be better. According to them, “iron ore trade and in particular seaborne trade, has been mainly driven by Chinese demand for almost a dec-ade now and while demand for steel production may well be faltering, it doesn’t not look like we will see an outright reduction in demand for this vital commodity. At the same time, with prices of the ore having dropped to consecutively record 5 year lows over the past months, it has been Chinese internal iron ore production that has been most at threat. Both Australia and Brazil have considerably lower breakeven levels and can sustain their production at price levels considerably lower than their Chinese counterparts. This means that as the price drops further it will likely be seaborne imports that will have most to gain boosting their demand and as such their volumes”, Lazaridis noted.
He added that according to the optimists of the dry bulk market, “the considerable iron ore inventories that have amassed in most major Chinese ports are likely to be consumed fairly quickly by the ramped up Chinese steel produc-tion and at the same time the average levels of port inventories will have to be raised in order to better secure against any disruptions in production as they will be more reliant on imports moving forward”.
As a results, Allied’s analyst wonders which will be the case out of the above different scenarios. According to him, “there may well be an increasing rise for iron ore imports, however Australia has championed as main supplier to China for many years and as things are looking now, they have been gaining further ground during 2014, moving from a 51% market share in 2013 up to roughly a 58% market share now. This means that as their mines ramp up production and gain ground in the market they will likely eat up some of the further away competition as well, countering some of the positive effects of the higher reliance of China on imports, as Aussie ore also takes up volume from longer haul sources as well”.
According to the shipbroker’s view on the 2015 dry bulk market, “as things stand now it looks as a reasonable scenario for Chinese iron ore imports to rise by around 10-15% on a year-on-year ba-sis, while to put this number in perspective the respective number for 2014 looks close to around 16%. Having said that, this rise in imports is possibly going to translate into a more marginal 5% demand growth and even this figure seems to be optimistic. At the same time the schedule of newbuilding deliveries is quite well packed with over 139 vessels currently set to hit the water within 2015, while the lower bunker prices might add another headache as fuel consumption becomes less of an issue and many charter-ers start to push for higher speeds and in turn further increase the total annual carrying capacity of the Capesize fleet”, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 28 November 14
NEW BIMCO CLAUSE AIMS TO REDUCE SUPPLIERS' RELIANCE ON SHIP ARREST FOR CHARTERERS' UNPAID BUNKERS
KNOWLEDGE TO ELEVATE
Ship owners can, on occasion, find themselves in the invidious position of suffering unexpected loss of hire due to a tim ...
Friday, 28 November 14
JSW ENERGY AND GRM RESOURCES JOIN GLOBALCOAL
COALspot.com: globalCOAL® announced yesterday that two new Market Members have joined its online coal trading platform. According globaCOAL&rsq ...
Thursday, 27 November 14
MINING SERVICES TAX SPIKED BY 233% - BISNIS INDONESIA
COALspot.com: The Energy and Mineral Resources Department of Indonesia said the tax contribution from mining services sector in the 3rd Q 2014 ...
Thursday, 27 November 14
PANAMAX : EXPECTATION'S FOR A STRONG END OF YEAR RUSH, DISAPPEAR DAY BY DAY - FEARNLEYS
Handy
“We have experienced a firming market the last couple of weeks. More activity from cargo owners in the Atlantic and less available to ...
Wednesday, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
COALspot.com: The Dry Bulk market managed to reverse its course from the week prior and with the sole exception of the Panamax segment, we witnesse ...
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- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
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