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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, 02 March 15
FOB NEWCASTLE COAL SWAP ROSE 6.89% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.35 per MT (+6.89%) month over month and US$ 0.40 (0.78%) week on ...
Sunday, 01 March 15
BDI INDEX SLIGHTLY UP CAUSED AN INCREASE IN THE PANAMAX, SUPARAMAX AND HANDY SIZE INDICES
COALspot.com: The freight market saw some gains this week and BDI was up 5.26 pct closed at 540 points. However the Cape index failed to follow BDI ...
Friday, 27 February 15
WEEKLY US COAL PRODUCTION DOWN AN ESTIMATED 14.0% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 16.5 million short tons (mmst) of coal ...
Thursday, 26 February 15
DRY BULK MARKET COULD REBOUND FROM HISTORICAL LOWS IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market could exit from its historical lows in the coming weeks, as Chinese buyers reenter the market after the holiday celebrations. T ...
Thursday, 26 February 15
COAL POLICY RISK: HIGHER ROYALTIES FOR IUP HOLDERS - BAHANA SECURITIES | JAKARTA POST
The Energy and Mineral Resources Ministry plans to raise coal royalties charged to mining operation permit (IUP) holders by the end of the first qu ...
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- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- MS Steel International - UAE
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
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