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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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Saturday, 22 November 14
THE FALL IN BUNKER PRICES REDUCE FUEL COSTS SIGNIFICANTLY - BIMCO, PETER SAND
For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as USD 1 million a year if current price level st ...
Saturday, 22 November 14
DRY BULKERS NEWBUILDING DELIVERIES REACHED 11.8 MILLION DWT DURING THIRD QUARTER, NET FLEET GROWTH FOR 2014 TO REACH 5% - HELLENIC SHIPPING NEWS
The dry bulk market has rebounded since its less than impressive performance since the start of the year, but overall, third quarter figures could ...
Friday, 21 November 14
BUMI ENTERS INTO CONDITIONAL SALE & PURCHASE AGREEMENT TO SELL FBS STAKE
COALspot.com: PT Bumi Resources Tbk, one of the Indonesia's largest coal producers confirms that it has executed a Conditional Sale and Purchas ...
Friday, 21 November 14
U.S LAST WEEK'S COAL PRODUCTION STAYS FLAT W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 20 November 14
MOST MAJOR ASIAN ECONOMIES TO BENEFIT FROM LOWER OIL - FITCH
COALspot.com: The 25% drop in the price of oil since July is likely to lift economic growth prospects, improve terms of trade, and have a pot ...
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- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
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