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Wednesday, 11 February 15
BDI HITTING THE ALL-TIME LOW; FFA MARKETS NOT SHOWING ANY POSITIVE SIGNS
 With the BDI hitting the all-time low and with FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is still prevailing across the Dry Bulk sector. Average rates for all sizes are now trading below OPEX levels, rendering owners exposed to substantial loses. Apart from the existing tonnage surplus, for which we have talked a lot during the last years, anemic global growth and demand for dry bulk commodities have also pushed the BDI to its lowest historical point.
The decline of coal trade due to low demand from China is causing a big “headache” to Capesize and Panamax owners. Imports to China have been significantly reduced, since the local government is trying to shift away its dependency to coal for electricity production, to other renewable sources of energy. Despite that other countries like India have increased coal imports but that has so far proved inadequate to substitute entirely the fall in Chinese imports. As a result, many Panamaxes and capers, which were engaged in coal trade, are shifting to iron ore trade where in terms of transferred volume we are witnessing a healthy trade growth despite the fact that rates here have also plummeted.
Iron ore exports to China from Australia and Brazil rose as stockpiles in Chinese ports had hit a 12-month low in the beginning of the year. Low iron ore price together with cheap transportation cost and Chinese New Year festivities around the corner is the reason behind the increased volumes of iron ore imports. This increase has helped the Capesize market to slightly pick up from its historical lower point ever recorded in January and witness improved rates, which nonetheless are still far from what could be described as decent.
Headlines regarding the dry bulk market are mostly negative these days, however in this bearish market there are some news which could be interpreted as positive signs, something that market needs since this “crisis” is not only driven by its fundamental problems but also by sentiment. On one hand, iron ore imports could be soon increasing as demand from the Chinese steel industry is expected to rise on the back of the recently announced plan by the Chinese government to invest heavily (around USD1 trillion) in infrastructure projects as an attempt to support growth.
Secondly, activity in dry bulk demolition activity has increased the last month as a result of declining freight rates. As a matter of fact, in just one month’s time the number of Capesize vessels that was sold for scrap reached the number of Capesizes scrapped during the whole of 2014. Under this freight environment it is very likely that this trend will continue, helping the market alleviate some of the abundant tonnage. Finally, new building activity is declining because of both the current negative environment and also lack of finance to support these projects as a result of this environment. Also some contracted dry projects which have not commenced are now being swapped to wet projects allowing the substantial dry bulk order book to take a much needed breath.
A “perfect storm” is currently taking place in the Dry Bulk market. Overcapacity, anemic global growth, lack of demand for dry bulk cargoes and bearish sentiment amongst players, have all come together and pushed the market to its lowest point since 1986. But let’s not forget that during “perfect storms” there are always opportunities, as these are the exact points in a cycle when asset values hit attractive lows that makes investing suitable for asset play opportunities and fleet renewals, especially for those who have sat in the sideways all these years waiting for this exact “perfect storm”.
By Yannis Olziersky
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Tuesday, 17 February 15
FOB SUB-BIT INDONESIA COAL SWAP UP 8% MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 3.58 (+8.00%) month o ...
Tuesday, 17 February 15
Q2' FOB RICHARDS BAY COAL SWAP CLOSED AT $63.45; $ 1.85 HIGHER COMPARED TO Q4 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month, week on week and day on day.
The Q2 swap has ...
Monday, 16 February 15
COAL MINING SLUMP A BLESSING IN DISGUISE - THE JAKARTA POST
The growth of the coal-mining industry, which has diminished in the last two years, is expected to slump even further this year following weakening ...
Monday, 16 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 1.31 per MT (+2.59%) week over week and US$ 4.35 (+9.13%) month on ...
Monday, 16 February 15
Q2' 15 - CFR SOUTH CHINA COAL SWAP ROSE 5.22% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 2.88 (+5.22%) per MT month over month and US$ 1.08 (+1.90% ...
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Showing 3191 to 3195 news of total 6871 |
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- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
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