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Thursday, 26 February 15
DRY BULK MARKET LOOKING FOR POSITIVE MOMENTUM, BUT PROSPECTS REMAIN DIM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 As the Baltic Dry Index (BDI) inched a bit higher over the past couple of sessions and the Chinese are returning to the market after a week long hiatus, most market delegates are looking to see if the market will bounce back. According to the latest weekly report from shipbroker Allied Shipbroking, “the truth is that commodity prices have still remained at relatively low levels despite a slight uptick these past couple of weeks. Both Iron ore and coal have noted an improve-ment compared to where they stood in early February, while iron ore inventories at China’s main ports are reported to be sloping down to 96 million dry tonnes with in-creased momentum”.
According to Mr. George Lazaridis, head of Market Research & Asset Valuations with Allied Shipbroking, “this last point of low iron ore inventories is key, as we hadn’t seen this low inventory levels since early 2014, and while they might not be anywhere close to the low levels that were being reported in late 2012 and the majority of 2013, it still leaves some optimism for extra trading to take place as steel production is still rumoured to be at levels much higher than it was back then. Nevertheless, it doesn’t point to an overwhelming surge in demand the coming month, while reports of a slower harvest for grains this year, leaves further disappointment with regards to the potential of the seasonal spikes that typi-cally emerge during the year”.
However, as he noted, “signs of an improvement are still in sight, with a number of inquiries from West Austral-ia having already emerged and a number more rumoured to be under way. Yet many always place most of their hope on a surge in demand from South America, which is usually the one that ramps up the required tonne-miles and boosts utilisation rates by a bigger degree. In terms of grain cargoes, this was one of the main areas of disappoint-ment last year, with many having expected a stronger level of grain cargoes to come to market from ECSA, while at the same time Brazil had also lost some of its market share in the iron ore trade, meaning that a lower percent of new volume coming in was sourced from there. The latter is looking unlikely to change for the time being while the recent allowance of the large Valemaxes to enter Chinese ports might deteriorate the situation here further. This points more to a continuation of the current “status quo” rather than any major positive or negative shift and likely means that once again indica-tors point to an overall lacklustre performance for 2015″, Lazaridis said.
He went on to note that “therefore it is ever more imperative that the fleet growth is kept under check. Steps towards this end have already been taken to some degree, with a number of new order swapping having already taken place and a good number of overage units having al-ready been sent to be scrapped. This needs to further intensify during the year, allow-ing for a better balance between demand and supply. For the moment the fundamen-tals don’t seem to be there yet to support a claim for seeing similar trade growth levels as has been seen the past 5-6 years. China, the world second largest economy has yet to find its foothold, so as to be able to spur on growth, while many believe that econom-ic growth within the country has slowed down more than the official line reports. Politi-cal and economic turmoil in Europe is not helping either, with the almost stagnant Med/ Black Sea dry bulk trade being a strong indicator of this. It turns out that supply will play a more crucial role this year then what it has in the past, as it seems that it now holds the potential to really chock the market during one of its most difficult periods”, Lazaridis concluded.
In terms of demolition activity this past week, shipbroker Intermodal noted that “the trend of falling demolition prices finally came to a halt last week, which ended with prices across the board sustaining their levels from the week prior. As a result, slightly positive sentiment started building up, with market players still cautious but hopeful at the same times that maybe the market has found some sort of support around these levels. Amidst slowing down Chinese scrap steel imports last week, the Indian subcontinent market appears to indeed have caught a break, while this past week also marked the return of India back into action. Breakers in the country were quick to snap a number of available demo candidates ahead of the government’s budget announcement at the end of the month. Hopes that the budget announcement could bring along some sort of tax imports on Chinese steel, which would certainly boost demo prices in the country, has in fact rushed local breakers to position themselves in a market that could sooner rather than later be enjoying some upside. Prices this week for wet tonnage were at around 240-400 $/ldt and dry units received about 215-375 $/ldt”, the shipbroker said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 10 March 15
OIL PRICE FORECASTING - IGNORE THE EXPERTS: COLIN MARSHALL
KNOWLEDGE TO ELEVATE
Experts put themselves on a pedestal, making claims to have special forecasting abilities for oil price trends. They, too ...
Tuesday, 10 March 15
FOB NEWCASTLE COAL SWAPS HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 0.24 per MT (-0.47%) month over month and US$ 1.52 (-2.93%) we ...
Tuesday, 10 March 15
CFR SOUTH CHINA POWER-STATION COAL SWAPS DECLINE
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery fell US$ 0.42 (-0.74%) per MT month over month and declined US$ 1.00 &nbs ...
Monday, 09 March 15
INDONESIA GREETS INDIA RATE CUT AS GOOD FOR EXPORTS - GLOBEASIA
Indonesian commodity producers and economists have hailed the Indian central bank’s rate cut as good for boosting exports from Southeast Asia ...
Monday, 09 March 15
CHINA'S SUPREME COURT ISSUES NEW JUDICIAL INTERPRETATION ON SHIP ARREST AND JUDICIAL SALE OF SHIPS - GARD
KNOWLEDGE TO ELEVATE
China is not traditionally a popular jurisdiction for ship arrest. However, Members and clients with ships calling at por ...
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- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
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