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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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Monday, 23 November 15
NEGATIVE 2016 OUTLOOK FOR WESTERN EUROPEAN STEEL - SAYS FITCH RATINGS
COALspot.com: European steel in 2016 are both negative for the sector and for issuer ratings.
This reflects our expectation that import levels ...
Monday, 23 November 15
DRY BULK MARKET: NET FLEET GROWTH IS SLOWING DOWN, AS SHIP OWNERS ARE LOOKING FOR WAYS TO ALLEVIATING MARKET MELTDOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been in “meltdown” mode for a few weeks now, unable to find support and avoid the fall in historical lows. As s ...
Monday, 23 November 15
CS50 COAL INDEX CLOSED AT $40.27 PER TON; FELL 0.15% FROM LAST WEEK
COALspot.com: The 5700 GAR CS (i) coal index fell by US cents 3 per ton week over week on 20 November 2015. CS 57 (5700 GAR coal) index closed at U ...
Monday, 23 November 15
CFR SOUTH CHINA COAL SWAPS FALL FURTHER ON LOW DEMAND
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.75 (13.99%) per ton month over month.
A commodity swa ...
Sunday, 22 November 15
INDONESIA TO INDIA FREIGHT RATES TO REMAIN DULL NEXT WEEK
COALspot.com: The BDI was down to historical lows closing at 498 points which is down by almost 95.77 per cent compared to 11,800 points in 2008.
...
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- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
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