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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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Tuesday, 24 March 15
A WEAK WEEK FOR FOB INDONESIA COAL SWAP
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 2.48 (5.12%) month ...
Tuesday, 24 March 15
RICHARDS BAY COAL SWAP FOR DELIVERY Q2 CLOSED $ 1.87 HIGHER COMPARED TO Q3 CLOSING PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has dropped U ...
Tuesday, 24 March 15
ARGUS MEDITERRANEAN SOLID FUELS 2015 CONFERENCE | 2-3 JUNE, ISTANBUL
Press Release: Argus Media is proud to announce Argus Mediterranean Solid Fuels, which will be held in Istanbul,on 2-3February.
Argus produces ...
Monday, 23 March 15
IS OIL GETTING READY TO PLUNGE BELOW $40? - FORBES
KNOWLEDGE TO ELEVATE
In my last crude oil market update in late-February, I expressed my skepticism toward the oil price rebound. Since then, ...
Monday, 23 March 15
Q4' 2015 FOB NEWCASTLE COAL SWAPS DECLINED 6.79% M-O-M; 2.55% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.42 per MT (-6.33%) month over month and US$ 1.37 (-2.77%) we ...
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- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
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