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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, 19 March 15
HANDY: INDO COAL CARGOS DESTINED FOR INDIA BEING FIXED IN REGION OF $ 7-8K - FEARNLEYS
Handy
The Handy and Supra market has had a week with mixed signals. Although we see more activity in both hemispheres the rates are only up about ...
Thursday, 19 March 15
INDONESIAN COAL BENCHMARK SOAR 7.69% IN MARCH....!!!
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised up Indonesian coal benchmark prices to US$ 67.76 per MT in March ...
Wednesday, 18 March 15
AVERAGE RATE FOR CAPES MOVED TO BELOW $ 4K/DAY LAST WEEK - INTERMODAL
COALspot.com: The even heavier losses noted in the Capesize segment last week, denied the Dry Bulk market a third weekly positive, while the smalle ...
Wednesday, 18 March 15
PARKING THE CAPES - LINOS KOGEVINAS
It is no secret that recent times have been anything but kind towards shipping, and no sector has suffered more lately than the dry bulk one. While ...
Wednesday, 18 March 15
CHINA-OWNED SHIPS: A RAPID RISE TO BECOME ONE OF THE WORLD'S LARGEST FLEETS - RICHARD SCOTT
Ships operated by owners based in China have become increasingly prominent on the world’s sea routes. China-owned container ships, bulk carri ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- PTC India Limited - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Posco Energy - South Korea
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