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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, 01 December 15
TANKERS VERSUS BULKERS - JUST PLAYING CATCH UP? - CLARKSONS
It’s now more than a year since the tanker market took off. In mid-2014 tanker earnings picked up and since then have been in the $30-$40,000 ...
Monday, 30 November 15
ASSOCARBONI LOOKS AT COAL FROM A DIFFERENT ANGLE
ASSOCARBONI is in favour of an international mechanism to provide financial support to countries building high efficiency low emission coal plants. ...
Monday, 30 November 15
CS 5000 GAR COAL INDEX FIRM D-O-D; WEAK W-O-W
COALspot.com: The 5000 GAR CS (i) coal index up slightly day over day.
According to the system generated index, the CS 50 (5000 GAR coal) was ...
Monday, 30 November 15
CFR SOUTH CHINA COAL SWAPS REMAINED UNCHANGED FROM LAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.50 (9.78%) per ton month over month.
A commodity swap ...
Sunday, 29 November 15
CAPE INDEX SURGES 383 POINTS WEEK OVER WEEK, BOOSTS BALTIC DRY INDEX
COALspot.com: The Baltic Dry Index, a measure of shipping rates, fell to 498 points on 20 November and touched a 30-year low, but on 27 November th ...
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- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Australian Coal Association
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
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