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Thursday, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for most ship owners. In fact, with the FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is still the “name of the game” in the dry bulk market. In its latest report, shipbroker Intermodal noted that “apart from 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”.
Attempting to provide some insight as to what factors have contributed to this negative development, Intermodal’s SnP broker, Mr. Yannis Olziersky said that “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”.
At the same time, “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”, Olziersky said.
The shipbroker’s analyst added that “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”.
According to Olziersky, another silver lining could be the fact that “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”.
He concluded his analysis by noting that “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””, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 02 April 15
NEWBUILDING ORDERS FOR DRY BULK CARRIERS "DRY" UP
Newbuilding ordering activity remained subdued over the course of the past week, as ship owners are wary of adding further tonnage to an already pr ...
Wednesday, 01 April 15
SUPRAMAX & HANDY: RATES HELD STEADY TOWARDS THE WEEKEND
“Despite the fact that the Dry Bulk market closed off on the green last week, sentiment didn't improve by any means, not only because of ...
Wednesday, 01 April 15
WEEKLY SHIPPING MARKET UPDATE - INTERMODAL
There is no doubt that we are still witnessing a very challenging and at the same time very uncertain market, both with respect to dry chartering a ...
Wednesday, 01 April 15
Q4' 15 INDONESIA COAL SWAP CLOSED AT $45.15 W/E 27 MARCH 2015
COALspot.com: Indonesian coal swap for delivery Q2' 2015 drops month on month and week over week.
The Q2 swap declined US$ 1.54 (3.24%) mo ...
Tuesday, 31 March 15
RICHARDS BAY COAL SWAPS GAIN WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month but increased week on week.
The Q2 swap has ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
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