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Wednesday, 11 March 15
DRY BULK MARKET: ALL IS NOT LOST FOR A RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The low cost of commodities across the board could trigger an increase of trade among many countries, which in turn could lead to a recovery of the dry bulk market soon. In its latest report, shipbroker Allied Shipbroking noted that “with commodity prices still under pressure and possibly slipping further as the U.S. dollar gains ground, there could be room for some extra demand to surface down the line. For one, activity in terms of Chinese imports of iron ore have already been on the rise since late February and although this has yet to translate into higher earnings for Capes, the possible competitive edge for Brazilian iron ore, due to the sliding value of Brazil’s real, could lead to a sharp increase in demand for those longer haul routes. This would likely be pushing out some of the locally sourced supply in China, rather than those sourced from Australia, leaving a positive after taste for seaborne trade. This is supported further by the fact that the new price reality of iron ore at bellow US$ 60 per tonne on the spot market, looks more like a level that could be sustained by the more competitive miners of Australia and S. America rather than the local Chinese miners”, said Allied in its report.
According to Mr. George Lazaridis, Head of Market Research & Asset Valuations, “inventories have been on the rise once more, despite the rumours of slowing down steel production in China, giving a sense that this might be a temporary restocking rather than a full blown recovery trajectory many would have hoped for. The Chinese steel sector is still struggling with the slower growth reality, leaving the industry with heavy overcapacity issues and increasing costs due to new environmental laws. With the possibility of part of its excess of 1.1billion tonne annual capacity facing closure, China’s steel production is unlikely to drive the same demand growth of past which is much needed for some of the major dry bulk commodities, namely that of Iron ore and coal. With both of these commodities taken up in their majority by the capsize market and China having accounted for the lion’s share in their seaborne trade, it will likely be these larger dry bulkers which will find themselves facing the most difficult conditions. It has been no surprise therefore that during the past weeks were all other size segments have shown an improvement from their previous lows in the freight market, Capes are still under considerable pressure and have even managed to slide below an average rate of US$ 5,000 per day in the spot market. Any strong improvement as that proposed above, is looking likely to only be a temporary one as things stand now”, Lazaridis noted.
He added that ‘yet it’s not all bad news as it seems for the dry bulk market. Much of this recent improvement in the smaller size segments is likely to intensify further over the coming months, as the strong performance of the Atlantic basin is slowly getting primed to be hit by the influx of ECSA’s grains. What’s more is that although the grain production is estimated to only be moderately higher than that of last year (while Argentina has already announced that it may lower its previous estimates for the 2014/15 season due to the heavy rains faced recently), the much lower prices could create interesting arbitrage amongst markets, leading to higher trade volumes and possibly an even higher increase in tonne-mile demand. The question is that this is only seasonal and once these grain stems are gone what’s left to drive the market forward over the seasonally softer summer months?”, Lazaridis wondered.
He concluded his analysis by mentioning that “overall it looks like 2015 is turning out to be exactly what most feared it would, though it won’t all be like the “blood bath” that we have witnessed during the first months of the year. The truth of the matter is that the commodity boom of the past seems long gone now and we need to be more moderate moving forward in order to better accommodate the new “Status quo”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Saturday, 28 March 15
THE DRY BULK FLEET AT BREAKING POINT - CLARKSONS
The severe oversupply in the bulkcarrier fleet has contributed to the current trough in the dry bulk market, putting considerable financial pressur ...
Friday, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
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- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Minerals Council of Australia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
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