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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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Thursday, 28 January 16
RICHARDS BAY COAL SWAPS FOR Q1,Q2 AND Q3 DELIVERIES FIRM THIS PAST WEEK
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap rose month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coa ...
Wednesday, 27 January 16
API 5 FOB NEWCASTLE COAL SWAPS CLOSE MIXED
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.17 per ton (3.13%) this past week compared to the sam ...
Wednesday, 27 January 16
CHINA'S STALLING ECONOMY HAS HAD A GREAT EFFECT ON VARIOUS COMMODITIES; DECREASED DEMAND DRIVING COMMODITY PRICES LOWER AND LOWER - LINOS ALEXANDROS KOGEVINAS
Having gone through the first few weeks of 2016, it’s starting to look like another challenging year is ahead of us. Hopes for a recovery in ...
Wednesday, 27 January 16
WORLD HARD COAL PRODUCTION AND CONSUMPTION DECLINE IN 2015 FOR THE FIRST TIME IN OVER A DECADE - VDKI
COALspot.com: Seaborne hard coal trade and the changes in this area were decisively affected by China and India - VDKi.
China bears the g ...
Tuesday, 26 January 16
Q3'16 CFR SOUTH CHINA COAL SWAP DROPPED BELOW $41 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.82 (1.94%) per ton month over month.
A commodity swap is ...
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Showing 2586 to 2590 news of total 6871 |
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- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- The University of Queensland
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
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