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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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Sunday, 15 February 15
BALTIC DRY INDEX CONTINUALLY DIPPED IN RED
COALspot.com: The Baltic Dry Index continues its decline and fell 5.18 pct to 530 points week on week due to falling commodity prices and declining ...
Saturday, 14 February 15
SHALE GAS AND TIGHT OIL ARE COMMERCIALLY PRODUCED IN JUST FOUR COUNTRIES - EIA
KNOWLEDGE TO ELEVATE
The United States, Canada, China, and Argentina are currently the only four countries in the world that are producing com ...
Friday, 13 February 15
U.S. WEEKLY COAL PRODUCTION SHOWS 10% DECLINE
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.1 million short tons (mmst) of coal ...
Friday, 13 February 15
SMALL AND MEDIUM-SIZED SHIP OWNERS SQUEEZED OUT OF THE MARKET ON CRASHING DRY BULK MARKET AND EUROZONE CRISIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Financing issues have started to tighten the noose in the throats of small and medium-size ship owners, who were already facing problems over the p ...
Thursday, 12 February 15
CAPESIZE: THE BEST DESCRIPTION FOR THE MARKET IS, FLAT - FEARNRESEARCH
Handy
The handy and supra market is also being affected by the marginal volume of activity in the commodity sales. We see a small upturn in the T ...
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- Indian Oil Corporation Limited
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
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