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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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Friday, 20 February 15
U.S. PRODUCED AROUND 19.2 MILLION SHORT TONS OF COAL WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.2 million short tons (mmst) of coal ...
Thursday, 19 February 15
PANAMAX: NOPAC AND AUSSIE ROUNDS ARE DONE IN LOW/MID $ 4000; TRIPS VIA INDONESIA TO INDIA CLOSER TO THE $5000 MARK - FEARNLEYS
Handy
The handy and supra market has not seen any firming rates in front of the Chinese New Year and still suffering on low activity in both hemi ...
Wednesday, 18 February 15
DRY BULK SHIPPING TO RECOVER IN LATE 2015 - DREWRY MARITIME RESEARCH
Strong trade growth, moderating fleet development and deployment of new fuel efficient vessels are expected to lead to a recovery in dry bulk shipp ...
Tuesday, 17 February 15
WHO PAYS THE SUEZ CANAL FEES? - INCE & CO
KNOWLEDGE TO ELEVATE
This was an appeal from an arbitration award on a point of construction in relation to the wording of an addendum to a ch ...
Tuesday, 17 February 15
BUOYANT WAVES IN RECENT YEARS: GLOBAL SHIP INVESTMENT SINCE THE CRASH - HELLENIC SHIPPING NEWS
Anxiety about fleet expansion is a recurring feature of world shipping markets. Within the global maritime community, worries about the vast amount ...
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- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
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