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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, 10 February 15
SUB-BIT FOB INDONESIA COAL SWAP ADVANCES 3.79% WEEK ON WEEK
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 0.85 (+1.81%) month o ...
Tuesday, 10 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK OVER WEEK, RAISING HOPES?
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 0.95 per MT (+1.91%) week over week and declined US$ 0.06 (-0.12%) ...
Monday, 09 February 15
AUSTRALIAN COAL PRODUCERS BEST POSITIONED IN OVERSUPPLIED MARKET; US MINES MOST AT RISK - WOOD MACKENZIE
In a 2015 global coal outlook report, Wood Mackenzie says that Australia and Indonesian coal suppliers will see some upside in the difficult months ...
Monday, 09 February 15
FOB RICHARDS BAY COAL SWAP GAINS 3.65% TO ONE-MONTH HIGH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and day on day.
The Q2 swap has soared US$ 2.1 ...
Monday, 09 February 15
Q2' CFR SOUTH CHINA COAL SWAP DECLINED 3.28% TO $ 56.92 W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 1.93 (-3.28%) per MT month over month and US$ 0.10 (-0 ...
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- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
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