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Wednesday, 24 June 15
PANAMAXES: THE OUTLOOK REMAINS NEGATIVE AS DEMAND FOR COAL IS DIMINISHING - YANNIS OLZIERSKY
 As we get closer to the end of June, we can safely say that the 1st half of the year is leaving the dry bulk market with a bitter taste that we all wish to forget. The BDI was fluctuating around its lowest point ever recorded for the entire first half. The last two weeks though have given a much needed lift to the market, which nonetheless will need further momentum to make some actual difference in both sentiment and returns. Whether this momentum will be found in order to stabilize market rates at least above OPEX, is something that is hard to predict. However, and since we are coming out of the "dusk" of H1 and slowly moving towards the "dawn" of H2, a recap in titles could be of interest to our readers.
Starting with Capers, levels are currently at the highest point since January. With the Chinese iron ore inventories at their lowest point since November 2013 and with the price of iron ore at slightly above $60/ton, a mild recovery in terms of traded volume is expected. On the supply side, heavy demolition activity in H1 (more than 10mill dwt have been demolished since the beginning of the year) together with slippage, cancellation and conversions of dry bulk orders to tankers or containers, is restricting the growth of an already oversupplied market. On the other hand, China’s decision to support Vale’s iron ore expansion plan, may lead to an increase in iron ore supply. One would think that such decision would help the market recover on the back of tonne miles increase, however since most of Vale's transported iron ore will be shipped in Valemax ships the positive effect on rates will be hard to materialize.
On the Panamaxes, although rates have not seen today's levels since December 2014, the outlook remains negative as demand for coal is diminishing. Environmental concerns in many nations and especially in China have pushed towards usage of cleaner resources of energy. As a result, coal imports have declined significantly YoY and a revival is hard to be expected despite the fact that other big economies like India are increasing demand but doing so in a more moderated level. On the other hand, some support could be founded in the grain market on the back of the increased production of exporting countries like US, Canada and Brazil.
On the smaller sizes, Supramaxes have found support in the Atlantic thanks to grains and petcoke cargoes. India's high petcoke imports from the US have helped increase tonne miles in the sector, while in the Pacific, rates are also correcting upwards on the back of bauxite and nickel ore imports, with China being behind most of the latter. Handysizes are also trying to take advantage of the increase of shipments of both grains and other minor bulk commodities, however the impact on freights is moderate as charterers prefer to use bigger vessels for the transportation of commodities, especially for the Transatlantic trade.
In general, the market is being in doldrums and nothing exciting should be expected during the next couple of months, some spikes could give glimpses of hope. However, the next big thing will most probably be the fourth quarter of this year, a time when the market is traditionally advancing. What will happen this year remains to be seen with great interest. Therefore from the “dusk” of H1 till the “dawn” of the H2 nothing really crazy should be expected, apart maybe from some humans turning into vampires somewhere in a bar close to the Mexican borders...
By Yannis Olziersky
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 28 September 15
CAPESIZE FLEET INCREASES BY JUST 1 VESSEL DURING LAST 12 MONTHS, IN POSITIVE SIGN FOR DRY BULK SHIPPING MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
After a rather tumultuous period, the shipping industry and more particular the dry bulk market has started to adjust to the new realities of globa ...
Monday, 28 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP ROSE 2.73 PER CENT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery moved upward US$ 1.45 (3.04 %) per ton month over month.
A commodity ...
Sunday, 27 September 15
THE PANAMAX INDEX FELL 1.19 PCT WEEK OVER WEEK
COALspot.com: The BDI closed Friday (25/09/2015) at 943 points, down by 17 points compared to previous Friday closing (18/09/2015). The BDI wa ...
Friday, 25 September 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING SEPTEMBER 19 ROSE 2.5% PER CENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Wednesday, 23 September 15
CAPESIZE: SPOT RATES HAVE INCREASED MORE THAN 70 PER CENT DURING LAST WEEK
Dry Bulk owners, always look at September as the time that the market “signals” what lies ahead for the remainder of the year. The Chin ...
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- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- PTC India Limited - India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- White Energy Company Limited
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
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