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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, 24 February 15
IHS ENERGY COAL CONFERENCE OF THE AMERICAS
Attend the IHS Energy Coal Conference of the Americas 17-19 March in Cartagena, Colombia and learn about timely concerns in today's coal indust ...
Monday, 23 February 15
Q2' CFR SOUTH CHINA COAL SWAP FOR Q2 ROSE 3.39% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.90 (+3.39%) per MT month over month and declined US$ 0.08 ...
Monday, 23 February 15
Q2' API 5 FOB NEWCASTLE COAL SWAP CLOSED $1 HIGHER THAN Q3
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.12 per MT (+6.44%) month over month and fall US$ 0.43 (-0.83%) w ...
Sunday, 22 February 15
THE BALTIC DRY INDEX LOST ALMOST 3.2% OR 17 POINTS WEEK ON WEEK
COALspot.com: The Baltic Dry Index, one of the economic indicators that monitors the health of the world's economy by tracking the price of shi ...
Friday, 20 February 15
GOVT SET TO INCREASE COAL OUTPUT TARGET THIS YEAR - JAKARTA POST
The Energy and Mineral Resources Ministry is planning to increase its coal output target this year as the government seeks to offset the ongoing de ...
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- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
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