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Wednesday, 04 May 16
IS THE DRY BULK MARKET OUT OF THE WOODS YET, OR NOT? - HELLENIC SHIPPING NEWS
 Things are beginning to brighten up in the beleaguered dry bulk market, which is riding on a multi-week rally to find itself around the “psychological” level of 700 points (Baltic Dry Index), which is a six-month high. However, analysts and shipbrokers alike are keeping both feet on the ground, as things are still more than fragile and could turn around in a heartbeat. According to a recent report from shipbroker Intermodal, “the commodities markets have been moving like crazy during this time, with the bear rally having pushed prices for iron ore to more than 15-month highs (the recent peak reached $70 a tonne, marking it for now the best price performing commodity for 2016”.
Intermodal noted that “all this market boost seems to be the child born from the combination of several market effects mainly resonating from within China. The increased availability of credit from the huge amount of cash injected by Chinese policymakers into its banking system earlier this year, the restocking undertaken ahead of the summer construction period, tighter supplies recently noted after a string of closures last year, supply disruptions in Australia and Brazil and finally a more bullish appetite for steel in China following an improvement in steel-intensive construction and infrastructure projects and a better than expected GDP figure for the first quarter of 2016. This has been enough to feed speculation from China and drive a more then 80% increase in price from its low back in December of 2015”
According to George Lazaridis, Head of Market Research & Asset Valuations with Intermodal, “all this has in turn has fed a stimulus to the iron ore futures contract and has been thoroughly noted in the advancements in seaborne trade shipments. Yet as good as all this may sound, alarm bells have been ringing. The recent rally is still being held on a very shaky foundation, while recent public comments from most of the major iron ore producers have been mentioning the expectation of a significant inflow of cheaply sourced supplies which are due to come online this year. Further to this and with the price of iron ore having now reached this new peak, mines based within China (which had been driven out of market from the previous drop in prices) will be able to come online even partially, as such bringing a temporary halt in seaborne imports. Furthermore, it is important to also note that it is still too early to tell the long-term viability of the recent stimulus package brought on by the policymakers and how well it will be a steady support on the market and provide real support for a true market recovery”.
Lazaridis added that “nevertheless and after having mentioned all the cautions that needed to be addressed, the news are fairly positive. From the perspective of the shipping industry it is the boost in demand that plays the more significant role, with the recent rally in prices, although reflecting the market improvement in demand, leaving risks down the line if these prices were to prevail for too long. Cheaply sourced supplies could further boost demand while allowing to keep the competitive edge on supplies sourced from far locations such as Australia and Brazil. Therefore the focus is on the consumption boost from within China, which if it lasts and keeps on course, could be the sign of a true market recovery in sight”.
He concluded his analysis by noting that “taking away from the recent rise in demand the percentage that is due to the high seasonal restocking does make for a more moderate rise while it leaves a sense of an upcoming drop once the focus shifts from restocking to destocking. For the moment however, things look positive and given the Herculean efforts made on the side of ship owners to keep the supply of Capes capped, we might be set for an earlier recovery then what one would have thought of back in January. What is important is that we don’t lose our sight off the ball, and keep efforts to a max in order to bring about this change in markets sooner rather than later”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
Tuesday, 10 May 16
VOLATILITY? VARIATION NO ENIGMA TO SHIPPING..... - CLARKSONS
Along with cyclicality, the other characteristic of the shipping markets which receives frequent mention is volatility. This is so evident that the ...
Monday, 09 May 16
INDONESIAN CS COAL INDICES UP CONTINUES; POSITIVE DIRECTION
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.10 percent week over week to averaging $38.82 per ton on this past Wednesday, a ...
Monday, 09 May 16
DRY BULK SHIPPING TO WITNESS STEADY PROGRESS MOVING FORWARD ON THE BACK OF GROWING TRADE VOLUMES - BIMCO
In its latest short-term analysis of the shipping markets, BIMCO reiterated its optimism on the prospects of the dry bulk market moving forward. Ac ...
Monday, 09 May 16
BALTIC DRY INDEX ENDS WEEK ON A NEGATIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
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- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
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