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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, 13 January 16
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Going through the second week of 2016 we could easily argue that at this point there are no visible signs of an imminent recovery in the Dry Bulk m ...
Wednesday, 13 January 16
IRON ORE IMPASSE - A FAILED CLAIM FOR CONVERSION - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the recent case of the “Bao Yue”, the English High Court found that the bill of lading holder was liable t ...
Tuesday, 12 January 16
5700 GAR COAL FOR DELIVERY WITHIN Q1 FELL 0.91% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin moved South direction week over week to averaging $39.96 per ton on last Friday, acc ...
Monday, 11 January 16
PORT OF NEWCASTLE SHIPPED 20% MORE COAL IN DECEMBER 2015; AVERAGE SELLING PRICE DECLINE 3.43%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.129 billio ...
Sunday, 10 January 16
LNG BUNKERING IN ASIA: FUELING A PROMISING FUTURE? - REED SMITH
The requirement of a mandatory reduction of sulphur content in bunker fuel proposed by the International Maritime Organisation (IMO) poses a challe ...
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Showing 2611 to 2615 news of total 6871 |
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- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
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