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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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Monday, 16 March 15
MAKING THE WORLD GO ROUND - SEABORNE TRADE! - CLARKSONS
Money, or even love if you prefer, are claimed to make the world go round. For the shipping world, however, it’s trade that sets things spinn ...
Monday, 16 March 15
API 5 FOB NEWCASTLE COAL SWAPS: DECLINED
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 2.48 per MT (-4.77%) month over month and US$ 0.93 (-1.84%) we ...
Monday, 16 March 15
CFR SOUTH CHINA THERMAL COAL SWAP DECLINED 3.74% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 2.17 (-3.74%) per MT month over month and US$ 0.67 (-1 ...
Sunday, 15 March 15
BDI DECLINED LESSER THAN 1% WEEK OVER WEEK; INDO-INDIA FIRM
COALspot.com: The most of indices, including bulk dry index were falling this week. The BDI has been down by just 0.53 points and closing at 562 po ...
Saturday, 14 March 15
CAPESIZE DRY BULKERS TO AVERAGE BETWEEN $3,000 AND $9,000/DAY IN THE COMING WEEKS SAYS BIMCO
BIMCO issued its latest short-term estimates for the dry bulk market. For March/May: BIMCO assesses that the Capesize time charter (T/C) average ra ...
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- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
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