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