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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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Saturday, 09 January 16
BALTIC DRY INDEX SINKS 10% WEEK OVER WEEK TO AN ALL-TIME LOW OF 429 POINTS
COALspot.com: The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, decline around 10% we ...
Friday, 08 January 16
FOB INDONESIA COAL SWAP FOR DELIVERY H1'16 REMAIN FLAT AS DEMAND DROPS OFF
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month, flat week over week. The price for coal has been in a Dull Market sinc ...
Friday, 08 January 16
FOB RICHARDS BAY COAL SWAP FOR Q2'16 DELIVERY CLOSED UP $0.13 AT $45.50 PER TON
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap decline month over month and slightly up week over week.
The Q1’ 2016 FOB R ...
Friday, 08 January 16
WEEKLY US COAL PRODUCTION DECLINES 1.6% TO 11.7 MMST, SAYS EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.7million short ...
Friday, 08 January 16
DRY BULK MARKET'S CRISIS DEEPENS AS RATES ARE DROPPING TO NEW RECORD LOWS BY THE DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Just when you would think that the dry bulk market is reaching its bottom, even as it has long surpassed all-time lows, each day that passes by at ...
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Showing 2616 to 2620 news of total 6871 |
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- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
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