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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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Wednesday, 11 March 15
RICHARDS BAY COAL SWAPS DROP $ 3.65 - 4.0/T W-O-W
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 fell US$ ...
Wednesday, 11 March 15
DRY BULK MARKET CLOSED OFF ON THE GREEN FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The Dry Bulk market closed off on the green for a second week in a row, while the performance of Capesizes hindered a more substantia ...
Wednesday, 11 March 15
MARKET INSIGHT : NEWBUILDINGS - PANOS TSILINGIRIS
From a cost-based, buy-low perspective, there is currently a buying opportunity in the second-hand dry bulk market. I am an anti-cyclical (buy-low) ...
Wednesday, 11 March 15
U.S. ELECTRIC GENERATING COMPANIES TO ADD MORE THAN 20 GW OF GENERATING CAPACITY IN 2015; 16 GW OF GENERATING CAPACITY IS EXPECTED TO RETIRE IN 2015
COALspot.com: In 2015, electric generating companies in U.S. expect to add more than 20 gigawatts (GW) of utility-scale generating capacity to the ...
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 ...
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- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- PTC India Limited - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
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