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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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Monday, 02 February 15
API 8 CFR SOUTH CHINA COAL SWAP PICKS UP W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.81 (-1.36%) per MT month over month and gained US$ 0.18&nb ...
Monday, 02 February 15
SOUTH KOREA'S KOMIPO INVITES BIDS FOR 280K MT OF SUB-BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 280,000 MT of Sub-bituminous coal coa ...
Sunday, 01 February 15
INDONESIA-TO-INDIA COAL FREIGHT RATES REMAIN WEAK NEXT WEEK
COALspot.com: The BDI continued its fall reached lowest levels since 1986 this week.
The BDI declined 15.55 pct to 608 points on Friday 30, Ja ...
Friday, 30 January 15
CONTANGO AND TANKERS - SKULD
KNOWLEDGE TO ELEVATE
Like an invitation to a dance, the word contango may have some people flustered, but for tanker owners this market phenome ...
Friday, 30 January 15
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED 65.7 MMST
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.9 million short tons (mmst) of coal ...
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- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- PTC India Limited - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
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