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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, 23 March 15
CFR SOUTH CHINA COAL SWAP: Q3 DELIVERY HAS FALLEN 7.93% MONTH-ON-MONTH
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.09 (-7.06%) per MT month over month and US$ 2.00 (-3 ...
Monday, 23 March 15
SEABORNE WORLD COAL TRADE: GROWTH +5% - GERMAN COAL IMPORTER ASSOCIATION
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Sunday, 22 March 15
DRY BULK RATES CONTINUED TO RISE THIS WEEK
COALspot.com: The freight market was steady this week as all the segments increased after many weeks of weak trend.
The Baltic Dry Index (BDI) ...
Friday, 20 March 15
HARD COAL MARKET 2014: DESPITE THE ENERGY TURNAROUND, HARD COAL IMPORTS TO GERMANY RISE BY MORE THAN 6% (PART 1)
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Friday, 20 March 15
U.S. WEEKLY COAL PRODUCTION SHOWS 5.9% INCREASE WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.5 million short tons (mmst) of coal ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Planning Commission, India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
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