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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, 17 February 15
FOB SUB-BIT INDONESIA COAL SWAP UP 8% MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 3.58 (+8.00%) month o ...
Tuesday, 17 February 15
Q2' FOB RICHARDS BAY COAL SWAP CLOSED AT $63.45; $ 1.85 HIGHER COMPARED TO Q4 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month, week on week and day on day.
The Q2 swap has ...
Monday, 16 February 15
COAL MINING SLUMP A BLESSING IN DISGUISE - THE JAKARTA POST
The growth of the coal-mining industry, which has diminished in the last two years, is expected to slump even further this year following weakening ...
Monday, 16 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 1.31 per MT (+2.59%) week over week and US$ 4.35 (+9.13%) month on ...
Monday, 16 February 15
Q2' 15 - CFR SOUTH CHINA COAL SWAP ROSE 5.22% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 2.88 (+5.22%) per MT month over month and US$ 1.08 (+1.90% ...
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- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- White Energy Company Limited
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- PTC India Limited - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
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