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Thursday, 26 November 15
DRY BULK MARKET WILL REBOUND EVENTUALLY, BUT THINGS WILL BECOME EVEN WORSE BEFORE THEY IMPROVE SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 As the dry bulk market’s benchmark, the Baltic Dry Index (BDI) reached an all-time late last week and has failed to rebound significantly ever since, it seems that many analysts and shipbrokers were caught by surprise, since they were admittedly expecting a better performing market during this period of year. However, as Allied Shipbroking pointed out in its latest weekly report, “it seems as though trade is at a much more dire state than what had been expected. During the past two months the slowdown has intensified, with the volume of cargoes in the market greatly outnumbered by the glut in tonnage supply and most market fundamentals pointing to extra deterioration in the balance down the line”.
According to Allied, “one of the main issues has been the aggressive and inward focused approach by most governments with regards to their exports and imports. Trade barriers seem to be lifting right, left and center, with the biggest focus of late been thrown on steel products. The issue here is that the excess supply coupled with slower economic growth leaves little room for beneficiary trade deals to be struck especially as most governments focus on aiding their own ailing industries. This “inward focus” leaves dry bulk shipping, in particular, in a very “sticky mess”. The vast orderbook which had been managed fairly well under the given circumstances is still presenting to be a grand issue and with deliveries scheduled to intensify during the next twelve months the problem will only get bigger for the time being”.
At the same time, as Allied’s Head of Market Research & Asset Valuations, Mr. George Lazaridis pointed out, “it isn’t enough that only one size segment manages to hold back it’s fleet growth as the recent market trend has shown. The BDI may have reached its lowest point but all the individual sub-indices are still above their historical lows. This in part shows how it hasn’t been one size segment that has drown down the market average, but rather that all of them have reached fairly low levels, further showing the intense influence they now hold on each other. With such “sour” sentiment abound it is hard for any owner to take a strong stance when it comes to negotiating with cargo owners to push for better freight levels and while bunker prices have helped reduce voyage costs they have also in part help breakdown the “slow steaming” policy (in effect increasing the supply of vessels further)”.
Lazaridis went on to note that “the biggest scare for now is what the market will do in early 2016, were we typically witness a further drought in requirements during the Chinese New Year festivities. There is no guarantee of the actual direction the market will take as was pointed out this year during the highs reached in August (a seasonally low point in the market) as well as the current market trend (which is during a period in the year which is typically a seasonally high point in the market). Overall however even if a new low in the BDI is not hit during the first quarter of 2016, expectations are for a fairly low average freight rate to be achieved for the whole of the coming year. We will surely see an-other great effort in minimising the growth in the dry bulk fleet which should in part limit the excess supply of tonnage in the market, yet we will still need to see a drastic change on the demand side as well, something that as it seems can only come about by external market forces which can be highly unpredictable”, he said.
Allied’s analyst concluded that “for the time being we will just have to make do with the current market psychology that has engulfed us all, trying to turn turmoil into opportunity and as asset prices continue to tumble to levels never before seen, it will be the patient opportunists that will be able to squeeze the most out of this market trough once more”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 08 December 15
Q1' 16 API 5 FOB NEWCASTLE COAL SWAP CLOSED AT $ 36.73 A TON; 1.73% HIGHER COMPARED TO Q3' 16 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $1.47 per ton (3.85%) month over month to US$ 36.73 per ton. The swap ...
Tuesday, 08 December 15
HOW TO MITIGATE LEGAL RISKS WHEN PURCHASING BUNKERS - LESSONS LEARNED FROM THE OW BUNKER COLLAPSE - THE SWEDISH CLUB
KNOWLEDGE TO ELEVATE
About a year has passed since OW Bunker & Trading A/S filed for bankruptcy. The collapse shows that there are signifi ...
Monday, 07 December 15
5000 GAR CS (I) COAL INDEX REMAIN THE SAME OVER LAST WEEK
COALspot.com: The 5000 GAR CS (i) coal index remain the same over last week.
According to the CS (i) coal (system generated) index, the CS 50 ...
Monday, 07 December 15
COAL DEMAND IN 2016 FAILS TO SUPPORT PRICES; CFR SOUTH CHINA COAL SWAPS SEEN AT $US 42 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 1.70 (3.88%) per ton month over month.
A commodity swap ...
Sunday, 06 December 15
THE BDI DECLINED BY 3.09 PERCENT TO 563 POINTS ON 4 DECEMBER
COALspot.com: The BDI declined by 3.09 percent to 563 points on 4 December 2015.
The Cape index was also declined by 10.01 percent to 890 poin ...
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- Indian Energy Exchange, India
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- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
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- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
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- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
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- Sojitz Corporation - Japan
- The University of Queensland
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- Sinarmas Energy and Mining - Indonesia
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- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
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- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
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- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
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