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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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Wednesday, 11 November 15
VESSEL VALUES ARE DOWN BY AT LEAST 20% SINCE MID-AUGUST - INTERMODAL
I had promised not to spend another broker’s insight focusing on the dry bulk side. However, the sale of the M/V Churchill Bulker (179,362 dw ...
Tuesday, 10 November 15
SELF-HEATING OF COAL HAS EMPHASISED THE IMPORTANCE OF CHECKING THE ACCURACY OF SHIPPER'S DECLARATIONS - GARD
Recent incidents involving self-heating of coal has emphasised the importance of checking the accuracy of shipper’s declarations for all type ...
Tuesday, 10 November 15
API 5 FOB NEWCASTLE COAL SWAP SLIDES CONTINUE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.55 per ton (8.50%) month over month to US$ 38.20 per ton. The swap ...
Monday, 09 November 15
BUNKER PRICES TO KEEP SLIDING THIS WEEK, EXPERT SAYS - MARINE BUNKER EXCHANGE
The oil price volatility has continued this week. Two dollars up one day and the next day two dollars down. The oil market has been trading on the ...
Monday, 09 November 15
CFR SOUTH CHINA THERMAL COAL SWAP FOR Q3' 16 CONTRACT DECLINED US$ 4 PER TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.35 (9.03 %) per ton month over month.
A commodity swa ...
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Showing 2721 to 2725 news of total 6871 |
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- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Parliament of New Zealand
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
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