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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, 16 March 15
MAKING THE WORLD GO ROUND - SEABORNE TRADE! - CLARKSONS
Money, or even love if you prefer, are claimed to make the world go round. For the shipping world, however, it’s trade that sets things spinn ...
Monday, 16 March 15
API 5 FOB NEWCASTLE COAL SWAPS: DECLINED
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 2.48 per MT (-4.77%) month over month and US$ 0.93 (-1.84%) we ...
Monday, 16 March 15
CFR SOUTH CHINA THERMAL COAL SWAP DECLINED 3.74% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 2.17 (-3.74%) per MT month over month and US$ 0.67 (-1 ...
Sunday, 15 March 15
BDI DECLINED LESSER THAN 1% WEEK OVER WEEK; INDO-INDIA FIRM
COALspot.com: The most of indices, including bulk dry index were falling this week. The BDI has been down by just 0.53 points and closing at 562 po ...
Saturday, 14 March 15
CAPESIZE DRY BULKERS TO AVERAGE BETWEEN $3,000 AND $9,000/DAY IN THE COMING WEEKS SAYS BIMCO
BIMCO issued its latest short-term estimates for the dry bulk market. For March/May: BIMCO assesses that the Capesize time charter (T/C) average ra ...
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- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
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