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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, 05 November 15
INFORMATION EXCHANGE GROUP'S LATAM MINING SECURITY SUMMIT 2016 - INTERNATIONAL CONFERENCE ON TECHNOLOGY SECURITY IN MINING
Press Release: LATAM Mining Security Summit 2016 is a carefully designed event that will bring together the leading stakeholders in the mining sect ...
Wednesday, 04 November 15
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
Four companies dominate global iron ore production, namely; BHP Billiton, Vale, Rio Tinto, and Fortescue Metals Group. Together these companies con ...
Wednesday, 04 November 15
FOB RICHARDS BAY COAL SWAPS GAIN W-W AND M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and month over month.
The Q4 swap was up US$ 1.4 ...
Tuesday, 03 November 15
THE DISCHARGE OF CARGO IN THE PRC WITHOUT ORIGINAL BILLS OF LADING - CLYDE&CO
KNOWLEDGE TO ELEVATE
On occasions, a vessel may arrive at a port and be ready to discharge but the original bills of lading in respect of the ...
Tuesday, 03 November 15
API 5 FOB NEWCASTLE COAL SWAPS DECLINE CONTINUES
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery slid $1.84 per ton (4.34%) month over month to US$ 40.54 per ton. The swap ...
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- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- The University of Queensland
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
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