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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, 30 October 15
INDONESIA'S COAL EXPORTS DROP ON LOW PRICES - THE JAKARTA POST
Indonesia's coal exports significantly dropped in the first nine months of the year as coal companies continued to suffer from low prices in ad ...
Friday, 30 October 15
CHINESE MINERAL IMPORTS: MOVING ON FROM INDONESIA? - CLARKSONS
China has accounted for almost 90% of global imports of nickel ore and bauxite in recent years and was therefore heavily hit by the Indonesian mine ...
Friday, 30 October 15
COAL PRODUCTION IN THE UNITED STATES INCREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
Thursday, 29 October 15
IRAN'S RETURN TO OIL MARKETS WILL HAVE TEMPERED IMPACT FOR THE TANKER SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While many analysts appear to be fearful of a potential incremental rise in tanker ships’ supply, as a result of the imminent return of Iran ...
Thursday, 29 October 15
Q2' 16 FOB INDONESIA COAL SWAP CLOSED US$ 37.40 PER TON; DECLINED 5.56 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 2.13 (-5.34%) per t ...
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- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- PTC India Limited - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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