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