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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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Monday, 30 March 15
WORST IS OVER FOR THE DRY BULK MARKET, BUT THE PAIN WILL REMAIN FOR YEARS TO COME, SAYS BIMCO CHIEF ANALYST - HELLENIC SHIPPING
The current demise of the dry bulk market isn’t one to go away anytime soon. That doesn’t mean that it can’t improve, with all sh ...
Monday, 30 March 15
Q3' 15 CFR SOUTH CHINA COAL SWAP: DECLINED 8.7% M-M; 12.77% Y-TO-D
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.00 (-8.70%) per MT month over month and US$ 1.33 (-2 ...
Monday, 30 March 15
Q2' FOB NEWCASTLE COAL SWAP CLOSED 4.47% HIGHER THAN Q4' CLOSING PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 5.42 per MT (-10.43%) month over month and US$ 1.60 (-3.32%) w ...
Sunday, 29 March 15
INDO - INDIA: SUPRAMAX & PANAMAX FREIGHT MARKET STEADY
COALspot.com: The freight market was almost stable as all segments slightly up except Panamax sector.
The BDI was up by just 0.85% week over w ...
Saturday, 28 March 15
IS NORTHERN EUROPE THE NEW MINING ELDORADO?
The Europe Mining 2015 Summit, organised by Global Summits organizer IRN on 17-18 June in Amsterdam, The Netherlands, will gather senior level repr ...
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- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
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