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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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Tuesday, 03 March 15
INDIAN THERMAL COAL IMPORTS: STEAMING FORWARD - CLARKSONS
Coal-fired power stations comprise around 60% of India’s power output, and with domestic supply issues and favourable international coal pric ...
Tuesday, 03 March 15
Q4' FOB INDONESIA COAL SWAP CLOSED 2% LOWER COMPARED TO Q2 CLOSING PRICE OF $ 47.47
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose month on month and declined week over week.
The Q2 swap increased US$ 2.24 ...
Tuesday, 03 March 15
FOB RICHARDS BAY COAL SWAPS: Q2 UP 9.60%; Q3 UP 9.75% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and week on week.
The Q2 swap has soared US$ 5 ...
Monday, 02 March 15
CFR SOUTH CHINA COAL SWAP FOR Q2 DELIVERY REACHED $ 57.50 PMT W/E 27 FEB 2015
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.37 (+2.44%) per MT month over month and declined US$ 0.42 ...
Monday, 02 March 15
BORYEONG POWER PLANT OF KOMIPO TO IMPORT 140K OF SUB-BITUMINOUS COAL FOR Q2
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 140,000 (70 ...
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- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- The University of Queensland
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
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