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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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Sunday, 06 December 15
DRY BULK MARKET ON REVERSE MODE, SET TO BREAK NEW ALL-TIME LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been the negative “star” of the shipping industry for quite some time. In fact if it wasn’t for the boomi ...
Sunday, 06 December 15
DESPITE TEMPTING NEWBUILDING PRICES, CONTRACTING IN DRY BULK REMAINS LOW - BIMCO
The current newbuilding prices for dry bulk ships has dropped so much that they just passed the lows of 2012 heading downwards and are now at the l ...
Friday, 04 December 15
FOB INDONESIA COAL SWAPS ARE ALMOST FLAT OVER WEAK DEMAND
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and rose slightly week over week. Coal prices seen very margi ...
Friday, 04 December 15
COAL PRODUCTION IN THE U.S. FOR W/E NOVEMBER 28TH FELL SLIGHTLY FROM THE PREVIOUS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 15.0 million shor ...
Friday, 04 December 15
MINING OUTLOOK WEAKENS FURTHER ON FALLING CHINESE DEMAND - FITCH
COALspot.com: Fitch Ratings' outlook for the global mining sector in 2016 is firmly negative, reflecting our view that Chinese demand will cont ...
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- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
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