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