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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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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
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