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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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Friday, 27 November 15
INDONESIA COAL SWAPS: WEEK ENDING 20 NOVEMBER CLOSED HIGHER COMPARED TO THE PREVIOUS WEEK
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and up on week over week. Coal prices seen slight improvements thi ...
Friday, 27 November 15
FOB RICHARDS BAY COAL SWAPS UP FROM LAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up week over week and month over month.
The Q1’ 2016 swa ...
Thursday, 26 November 15
ITALY'S STEAM COAL IMPORTS EXPECTED TO REACH 16 MILLION TONS AND COKING COAL IMPORTS TO AMOUNT TO 4 MILLION TONS - ASSOCARBONI
ASSOCARBONI LOOKS AT COAL FROM A DIFFERENT ANGLE
- “Coal has made huge steps towards environmental sustainability, making itself t ...
Thursday, 26 November 15
Q3'16 FOB NEWCASTLE COAL SWAP FALLS 27.5% SINCE 20 FEB 2015
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $5 per ton (12.05%) month over month to US$ 36.50 per ton. The s ...
Wednesday, 25 November 15
INDIA'S POWER GENERATORS FACE LOW, FALLING UTILISATION RATE - FITCH
COAlspot.com: Fitch Ratings says in a new report that the utilisation rate of India's thermal power generation capacity continued to decline in ...
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- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- The University of Queensland
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
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