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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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Tuesday, 19 January 16
HAPPY NEW YEAR, COAL PRODUCERS! OR MAYBE NOT - ANDY ROBERTS
To coal producers, 2015 must have seemed far longer than 365 days. From their perspective, as bad as markets were at the beginning of the year, and ...
Tuesday, 19 January 16
COALTRANS ASIA IS RETURNING TO BALI
22nd Coaltrans Asia
Coaltrans Asia is returning to Bali to bring together over 1000 industry decision makers and thought leaders for three day ...
Monday, 18 January 16
INDONESIAN 5700 GAR COAL INDEX ROSE 0.60% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline slightly week over week to averaging $39.93 per ton on this past Friday, acc ...
Monday, 18 January 16
BALTIC DRY SHIPPING INDEX DROPS TO 373 POINTS; DECLINE 13% WEEK OVER WEEK
COALspot.com: The freight market dropped this week as the BDI declined further 13 percent to 373 points week over week. The Cape index ...
Monday, 18 January 16
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 42.50 PER TON; UP 1% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.43 (1.02%) per ton month over month.
A commodity swap is ...
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- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- The University of Queensland
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
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