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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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Friday, 13 March 15
U.S. COAL PRODUCTION UP 2.3% WEEK OVER WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.5 million short tons (mmst) of coal ...
Friday, 13 March 15
ADARO RECORDED A 7% INCREASE IN EBITDA OF $877 MILLION IN 2014
“Coal market continues to be difficult and challenging” – Adaro Energy
The world’s Top 5 thermal coal exporter, ...
Thursday, 12 March 15
CAPESIZE : ACTIVITY IS LOW; PANAMAX: BIT MORE ACTIVITY; HANDY: A FIRMING WEEK
Handy
It has been a firming week in both hemispheres this week and especially in the Pacific, says Fearnleys AS in its week's week report.
...
Thursday, 12 March 15
COAL MINERS REMAIN UNDER PRESSURE AS GLUT CONTINUES - THE JAKARTA POST
Indonesia’s major coal miners reported a significant drop in their earnings last year as the sharp drop in the global demand, mainly from Chi ...
Thursday, 12 March 15
FOB INDONESIA COAL SWAP DROP TO $47.33 A TON IN THE WEEK ENDED MAR.6
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 0.37 (0.78%) month ...
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- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
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