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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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Tuesday, 18 November 14
VALEMAX DEAL TO DETERMINE DRY BULK MARKET'S FATE - DREWRY MARITIME RESEARCH
Vale’s accord to sell and lease four Valemax vessels to COSCO might have negative repercussions on dry bulk freight rates. Vale has committed ...
Tuesday, 18 November 14
SUB-BIT FOB INDONESIA COAL SWAP DELIVERY Q2' 2015 CLOSED AT $ 49.55; DOWN 4.10% M-O-M
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week and day on day.
The Q1 swap has lost US ...
Tuesday, 18 November 14
FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT $ 66.31; UP 1.33% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has gained US$ 0.27 (+0.41%) month over month and US$ 0.87 (+1.33%) week ...
Tuesday, 18 November 14
CHEAP OIL PRICES COULD RESHAPE GLOBAL OIL EXPORTING MAP - HELLENIC SHIPPING
Tanker owners have enjoyed a rather healthy 2014, but as the year draws to a close, the fall of oil prices is bound to reshape traditional, as well ...
Monday, 17 November 14
SKULD ISSUES URGENT NOTICE ON BANKRUPTCY OF OW BUNKER A/S
Further to the Association’s advices of 7 November 2014, more information has come to light with respect to the potential impact and scale of ...
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- GMR Energy Limited - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- The University of Queensland
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Australian Coal Association
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
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