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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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Thursday, 19 November 15
Q3' 16 RICHARDS BAY COAL SWAP CLOSED 9% LOWER THAN Q1' 16 DELIVERY PRICE
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, 19 November 15
RATES FOR CAPES KEPT MOVING SOUTH - INTERMODAL
COALspot.com: With the BDI currently standing at less than 30 points above the historical lows marked in February this year and with activity acros ...
Wednesday, 18 November 15
MARKET (SHIPPING) INSIGHT - THEODORE NTALAKOS
Supply VS Demand
According to data from the IMF, global growth for 2015 is projected at 3.1 percent, 0.3 percentage point lower than in 2014, ...
Tuesday, 17 November 15
KOMIPO INVITES BIDS FOR (SEMI) ANTHRACITE COAL FOR SEOCHEON POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 70,000 Metric Tons of (Semi) Anthracite for Ja ...
Tuesday, 17 November 15
FOB NEWCASTLE COAL SWAPS FALL: Q1'16 SLID 11.45% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $4.75 per ton (11.45%) month over month to US$ 36.75 per ton. The swap ...
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- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Planning Commission, India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
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