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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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Thursday, 26 February 15
DRY BULK MARKET LOOKING FOR POSITIVE MOMENTUM, BUT PROSPECTS REMAIN DIM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the Baltic Dry Index (BDI) inched a bit higher over the past couple of sessions and the Chinese are returning to the market after a week long hi ...
Wednesday, 25 February 15
PORT OF NEWCASTLE SHIPPED 13.16MT OF COAL IN JANUARY; DECLINED 16.70% FROM A MONTH AGO
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.15 billio ...
Wednesday, 25 February 15
BDI SLIPPING ONCE MORE TO FRESH HISTORICAL LOWS
COALspot.com: With the BDI slipping once more to fresh historical lows and the Chinese holidays underway, signs for a positive reversal in the Dry ...
Tuesday, 24 February 15
FOB INDONESIA COAL SWAP SET TO RALLY
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap increased US$ 3.30 (+7.30%) ...
Tuesday, 24 February 15
Q3' FOB RICHARDS BAY COAL SWAP CLOSED $59.80 W/E 20 FEB
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and decline week on week.
The Q2 swap has soar ...
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- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Australian Coal Association
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
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