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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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Wednesday, 11 March 15
RICHARDS BAY COAL SWAPS DROP $ 3.65 - 4.0/T W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has fell US$ ...
Wednesday, 11 March 15
DRY BULK MARKET CLOSED OFF ON THE GREEN FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The Dry Bulk market closed off on the green for a second week in a row, while the performance of Capesizes hindered a more substantia ...
Wednesday, 11 March 15
MARKET INSIGHT : NEWBUILDINGS - PANOS TSILINGIRIS
From a cost-based, buy-low perspective, there is currently a buying opportunity in the second-hand dry bulk market. I am an anti-cyclical (buy-low) ...
Wednesday, 11 March 15
DRY BULK MARKET: ALL IS NOT LOST FOR A RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The low cost of commodities across the board could trigger an increase of trade among many countries, which in turn could lead to a recovery of the ...
Wednesday, 11 March 15
U.S. ELECTRIC GENERATING COMPANIES TO ADD MORE THAN 20 GW OF GENERATING CAPACITY IN 2015; 16 GW OF GENERATING CAPACITY IS EXPECTED TO RETIRE IN 2015
COALspot.com: In 2015, electric generating companies in U.S. expect to add more than 20 gigawatts (GW) of utility-scale generating capacity to the ...
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- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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