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Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
 It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year so far. With a nearly constant stream of negative news continuing to emerge across each of the key dry bulk cargo sectors, it is almost as if Poseidon, the Greek god of the sea, has with his powerful trident launched a three-pronged attack.
Down To The Ocean Depths
The current depression is indeed severe. The Baltic Dry Index, a daily indicator of bulkcarrier rates, fell to its 19th consecutive record low of 317 points on 29th January. This is far below the average of 718 points in 2015, which itself was the second lowest annual average on record, and represented a year in which bulker earnings averaged around $7,000/day, little over estimated operating costs.
Surprise Attack
Of course, difficult market conditions are nothing new. Bulker earnings have been under pressure since 2011, when more than 100m dwt of deliveries kept fleet growth in double-digits. Whilst fleet growth eased to 2.4% in 2015, the slowest pace in 16 years, new demand-side pressures emerged, with dry bulk trade remaining flat last year. In Greek mythology, Poseidon’s trident had the power to cause earthquakes on earth, and there has certainly been evidence of a shake up recently. But where have each of the three prongs hit, and how sharply?
Strikes To The Core
The first earthquake is being felt in the iron ore trade, which accounts for around a third of dry bulk trade. Following rapid growth of 15% in 2014, Chinese imports eased in 2015, and expansion in iron ore trade slowed during the year (see graph). Overall, global iron ore trade is estimated to have grown by only 2% in 2015, and continued weak Chinese steel demand and the temporary closure of several major iron ore ports in January has done little to reverse this trend into 2016 so far.
The second shake up has hit trade in coal, which accounts for a quarter of dry bulk trade, very hard. Volumes declined by an estimated 5% in 2015, and the decline in volumes on the top 100 coal trade flows neared 10% y-o-y in Q3 2015, as Chinese and Indian imports fell. With several countries looking to increase reliance on clean energy sources, a major improvement in volumes seems unlikely.
Shifting The Currents
Finally, whilst the third earthquake has perhaps been less obvious than the first two, it has still had a significant impact. Growth in minor bulk trade, a diverse cargo grouping that accounts for more than a third of dry bulk trade volumes, was limited to 1% last year, owing in part to lower Chinese demand for imports of forest products, steel products, nickel ore, and various other smaller cargoes.
Stem The Tide?
So, the seas have been exceedingly stormy in the dry bulk sector. The impact from China’s economic transition is still resonating, and as yet there are few signs of an imminent improvement. As distressed conditions take their toll, hopes will be that the power of Poseidon’s trident will eventually start to ebb.
Source: Clarksons | Hellenic Shipping News
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Wednesday, 24 February 16
HOW IS THE FUEL MIX FOR U.S. ELECTRICITY GENERATION CHANGING? - EIA
In recent years, there have been changes in the mix of fuels used to generate electricity in the United States. Natural gas and renewable energy so ...
Wednesday, 24 February 16
PRIVATE EQUITY FUNDS LOOKING TO EXIT SHIPPING, MOST NOTABLY DRY BULK, AS OVERORDERING HAS RESULTED IN EXCESS TONNAGE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The injection of more than $13 billion in shipping from various private equity funds over the past few years has resulted in what many feared would ...
Wednesday, 24 February 16
THIRTEEN - NOT ALWAYS AN UNLUCKY NUMBER? - CLARKSONS
Back in early 1999 the price of a 5 year old Panamax bulkcarrier dipped to $13.5m, and ever since analysts have hailed purchase decisions made at t ...
Monday, 22 February 16
4200 GAR COAL INDEX SETTLES AT $27.02, DOWN 0.07% FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.17 percent week over week to averaging $38.89 per ton on this past Friday, ...
Monday, 22 February 16
FREIGHT MARKETS PICKED UP SLIGHTLY THIS PAST WEEK
COALspot.com: The freight markets picked up slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of gl ...
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Showing 2551 to 2555 news of total 6871 |
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- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- White Energy Company Limited
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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