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Monday, 08 February 16
DRY BULK: SHIPBROKER SEES BDI MARKET REACHING LOW POINT OF 236 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The endless pit that is the dry bulk market over the past two months, has been the issue of debate among ship owners, shipbroker and analysts alike, as market delegates are looking for ways to cope with the record low freight rates and determine whether the market will go next. In its latest weekly report, shipbroker Allied Shipbroking said that “with January having closed off with record lows on almost all dry indices (the exception is for the Capesize index which thanks to a small rally during the final week managed to prop slightly higher than the low of 185 points that was achieved on the 19th), many are feeling the pressure and are worried that this market has no bottom and has turned into an endless black hole”.
According to Allied’s Head of Market Research & Asset Valuations, Mr. George Lazaridis, “the initial resistance point many believed the market would reach was at 345 in the BDI. This was reached this Tuesday, with quick softening followed on subsequent days easily breaking below this level. The next point in sight that it seems should provide some resistance to further drops should be at around 298 points”. This was also reached on Thursday, while Friday’s session saw thw BDI closing at 297 points. Lazaridis said that “to put this index value into perspective and given the current state of each of the individual markets, this point would refer to average TCE rates of the Capesize at around US$ 2,618pd, that of Panamaxes at US$ 2,161pd, Supramaxes at US$ 2,989pd and that of Handysizes at US$ 3,034pd.”
Yet, the main question still remains as to if this will really be a resistance level that will be hard to break. According to Lazaridis, “Logically there is a level at which the market just doesn’t make sense for anyone to trade below that point. This however depends on a number of factors with most prominent that of the time period that has passed under which the market has been receiving “subpar” rates. To explain this further, owners might be willing to accept abnormally low freight rates if they know it will only be for one-two voyages (i.e. it is a small glitch in the market). However, it is nonsensical to continually trade for long periods of time at a constant loss. Therefore, given the fact that we have been seeing these poor freight levels for around two months now and given the rumours of many owners in the market already looking seriously into their options in terms of cold lay-up, it makes sense to assume that we are under the case of the latter and are likely going to hit a level deemed as the absolute low the market can sustain for now”, Allied’s analyst noted.
He added: “Noting at the same time that we have already seen a break in the consecutive negative days posted in the Capesize market, it looks as though we can presume that this size segment might well have reached its absolute low under the current market conditions, fluctuating thereafter at levels just above and just below this until the market finds a foothold from where to improve. Taking the same premise however on all the other size segments and we see that this next theoretical resistance point will likely be reached easily within this week and could possibly drop even further”.
According to Lazaridis, “a more reasonable resistance level is likely going to prove to be at 236 points on the BDI, a level that will be hard to reach as it will require the combination of all four size segments reaching their theoretical “breaking points” at the same time, but given the market conditions we have seen over the past month, it doesn’t sound like it’s an unthinkable scenario either. Nevertheless, all this will prove to be theoretical, as in practice the market may well have further surprises down the road. The current levels are already well below what the majority of owners can sustain given their OPEX levels, as such pushing more and more to take up options such as that of scrapping or layingup vessels and in turn helping improve the supply side of things”. On the demand side of things many are hopeful of slightly better interest from Charterers after the Chinese New Year, however these hopes have faltered in the past and may well do again”, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Wednesday, 10 February 16
OWNERS APPEAR WILLING TO DISPOSE OF TONNAGE THE SOONEST IT HITS THE 10 YEAR MARK - TIMOS PAPADIMITRIOU
COALspot.com: The last two months of 2015 made a case for traditional shipowners to invest in the dry bulk sector, doing so though based purely on ...
Monday, 08 February 16
DRY-BULK SHIPPING DIVING DEEP
COALspot.com: The freight markets continued to fall this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of glo ...
Friday, 05 February 16
COAL INDIA EYES COAL MINES IN SOUTH AFRICA - PTI
“Coal India Ltd has plans of acquiring coal mines in South Africa,” an official said. It is looking at acquiring mines in partnership w ...
Friday, 05 February 16
U.S. WEEKLY COAL OUTPUT ROSE 4.2% TO 13.6 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.6 million shor ...
Thursday, 04 February 16
CAPESIZE: WEST AUSTRALIAN TO CHINA HAS BEEN CONCLUDED AT US$ 2.85 PMT AND THE C3 MARKET REMAINS INACTIVE - FEARNLEYS
Capesize
As everyone is getting ready for the Chinese new year, already depressed rates are under further pressure.
According to Fearnleys, ...
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- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- The University of Queensland
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
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