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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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Sunday, 25 October 15
ANOTHER DISAPPOINTING WEEK FOR PANAMAX; INDEX FELL 5.4 PERCENT W-W
COALspot.com: The BDI was slightly up by 2.65 pct closing at 774 points mainly because of Cape index which was up by 10.85 pct closing at 1461 poin ...
Sunday, 25 October 15
DRY BULK SHIP OWNERS ARE LOOKING TO CHINA'S POLICIES FOR CUES ON FUTURE MARKET DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China’s hard or softer landing is a thing which has troubled dry bulk shipping for a couple of years now, as owners have been hit by the coun ...
Friday, 23 October 15
WILL INDIAN DOMESTIC COAL PRICES BE ABLE TO COMPETE IMPORTED COAL PRICES IF THE CURRENT TREND CONTINUES?
COALspot.com: The Most of the Indian end-users are waiting for last minute purchase to enjoy every drop in price. Coal procurement managers are als ...
Friday, 23 October 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING OCTOBER 17 DECLINED FOR THE SECOND STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.6 million shor ...
Wednesday, 21 October 15
RUSSIA'S CARBO ONE COAL SALES TO HIT 50 MLN T/YR - JACQUELINE HOLMES
COALspot.com: Russia's Carbo One has become one of the world's leading physical coal traders with an annual volume approaching 50 million t ...
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- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- White Energy Company Limited
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
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