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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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Tuesday, 20 October 15
API 5 FOB NEWCASTLE COAL SWAP CLOSED NEGATIVE
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $1.23 per ton (2.86%) month over month to US$ 41.80 per ton. The ...
Monday, 19 October 15
RUSSIA MAJOR COAL MINER KRU CUTS 4.5 MLN T/YR "UNPROFITABLE" EURO SALES - JACQUELINE HOLMES
COALspot.com: Kuzbassrazrezugol (KRU), one of Russia's largest producers of high-quality coal, plans to cut its coal exports in 2016 by about 4 ...
Monday, 19 October 15
CFR SOUTH CHINA COAL SWAP CLOSED AT $48.68 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 55 (1.12 %) per ton month over month.
A commodity ...
Monday, 19 October 15
KOMIPO SEEKS 1.28 MILLION T/Y COAL FOR DEC 2015 - Q2 2016
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 1,280,000 Metric Tons (MT) of minimum 4,600 kc ...
Sunday, 18 October 15
THE BDI AND OTHER INDICES CLOSED OFF ON NEGATIVE NOTE THIS FRIDAY
COALspot.com: The BDI closed off on negative note this Friday compared to previous Friday's closing.
The BDI closed this Friday (16 Octobe ...
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- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
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