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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, 17 February 16
TAP ON OPPORTUNITIES IN GROWING ELECTRICITY DEMAND AND NEW COAL POWER PROJECT DEVELOPMENTS IN THE PHILIPPINES - IBC
Tap on Opportunities in Growing Electricity Demand and New Coal Power Project Developments in the Philippines
Coal Power Generation 2016
19- ...
Wednesday, 17 February 16
THE OWNERS FACING HISTORICAL LOW DRY BULK RATES; COAL IMPORTS TO CHINA IS STILL POINTING TO A STRONG TREND OF DECLINING CONSUMPTION
The sharp fall in dry bulk rates that has been taking place since the end of last year and has left owners facing historical low rates for a substa ...
Monday, 15 February 16
CALL THE DOCTOR! SHIPPING'S MEDICAL DRAMA UNFOLDS......- CLARKSONS
The recycling market has started 2016 with a bang, with a huge volume of tonnage heading to demolition facilities. Many of the key shipping markets ...
Monday, 15 February 16
CS 42 COAL INDEX ROSE 0.07% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.15 percent week over week to averaging $38.96 per ton on this past Friday, ...
Monday, 15 February 16
BALTIC INDEX MARGINALLY ROSE BY A POINT D-D; CAPESIZE INDEX DOWN 13 POINTS W-W; PANAMAX INDEX UP 29 POINTS W-W
COALspot.com: The freight markets continued to fall this past week.
The BDI, The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measu ...
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- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Australian Coal Association
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
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