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Tuesday, 11 June 13
OUTLOOK FOR CAPESIZES LOOKS GRIM, DESPITE FALLING IRON ORE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Things aren't looking all that rosy for the dry bulk market, despite a stronger volume of iron ore imports during the months of March and April, as freight rates haven't had that necessary push to jumpstart. According to the latest monthly report from shipbroker Intermodal, "this has been reflected in the continuous drop in price for the commodity which was on an almost free-fall course from its latest price peak of $158.9 per dry ton reached on the 20th of February. The significantly slower economic momentum of China has slashed demand for this development-linked commodity, dragging both the price as well as the freight cost to multi-month lows. This is set to continue for most of the year, with destocking still a central strategy in China", the report said.
According to Mr. George Lazaridis, Research Analyst with Intermodal, "the industry view tends to be that for the long-run, even these bottom-of-the-cycle prices are much higher than what most analysts believe should be the prevailing level. This leads to an expectation of surplus production which eventually could lead to problems in ship-ping, as sources such as South Africa increase their stake in China’s iron ore imports, slashing in turn tonne-mile demand for Capes.
The question that is of more vital importance and an ongoing topic of conversation this year amongst shipping circles is; When can we expect an improvement in market fundamentals?
The answer is looking somewhat more worrying for Capes. It will take a lot more than just cheap commodity prices to get things going again. The Chinese slowdown does not seem to be a temporary hiccup and as such people should be taking it more serious", he noted.
With China accounting last year for 47% of global steel production, there is no debate as to who drives the demand for Capes. "Being heavily dependent on Chinese heavy industry production and investment in infrastructure any further slowdown in economic growth has an imminent impact on freight rates for this sector. Without this driving demand it is hard for this segment to see the sharp rise in freight rates and secondhand prices that many had hoped we would reach within this year. Nevertheless it’s not all black. Baosteel sees a 1-2 pct increase in Chinese steel production this year. The year-to-date increase in output of 7% shows a promise for improved markets in the final quarter, while at the same time it would take a substantial slow-down in output in the second-half for there to be a year-on-year drop in Chinese steel output", Lazaridis said.
With all the above in mind a few questions arise, like for instance, where is the basis for all this business being reported in the Capesize market? Is there a sense that previous bullish sentiment for this size group is leading new investment without there being a real demand for further fleet growth? Could this lead to further dragging out of sub-performing markets?
According to Lazaridis' viewpoint, "over the past couple of months we have seen the majority of trading sessions being reported at average freight figures bellow what is expected for most owners to cover OPEX. Even on some of the more positive trading days, TCE increases are temporary and usually attributed to momentary decreases in bunker costs as well as slow steaming throughout the fleet which helps increase what little extra earnings owners can squeeze out of the current market rates. The counter argument to this can be found in part in the wisdom of old. Through most shipping cycles owners have usually taken a long-term position hoping to make high gains through the cycle rather than only looking to act during periods where the market is on the rise. If they waited for the later we would not have any ship owners left. This may explain activity in the secondhand market however things are very different when it comes to newbuildings. Capesize newbuilding designs have not had the same overhaul in performance that we have seen in other size segments. So why are owner’s risking of drowning the market with further ordering when there are plenty of well-priced secondhand units available. It seems to be yet again the case of easier financing, respectively lower prices, easi-er payment terms and forward delivery that have the upside of even gaining in value before you have made full payment. As promising as all these sound to a potential buyer, a word of caution to the brave, “as you sow, so shall you reap”, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Sunday, 30 August 20
PANAMAX - THIS WEEK THE DEMAND HAS PICKED UP, BUT THE TONNAGE LIST IS INCREASING DAY BY DAY - FEARNLEYS
Cape Size
More or less flat from previous week, with cape rates moving from US$ 19,500 to 18,900 on average. West Australia however being more ...
Saturday, 29 August 20
COAL INDIA'S FUEL SUPPLY TO POWER SECTOR DROPS ABOUT 20% IN APR-JUL: PTI
State-owned Coal India”s fuel supply to the power sector registered a decline of 19.5 per cent to 126.30 million tonnes (MT) in the April-Jul ...
Saturday, 29 August 20
SOUTH KOREAN BROKERAGE FIRM KOREA INVESTMENT & SECURITIES TO STOP ALL COAL BUSINESS - KOREA HERALD
South Korean brokerage firm Korea Investment & Securities has decided to stop its investments in coal, in line with the Moon Jae-in administrat ...
Thursday, 27 August 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 985,000 TONS OF BITUMINOUS COAL FOR NOVEMBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 985,000 ...
Thursday, 27 August 20
SOUTHEAST ASIAN NATIONS SET REGION-WIDE RENEWABLE ENERGY GOAL OF 23 PERCENT BY 2025 - ASEAN POST
The Association of Southeast Asian Nations (ASEAN) has set an ambitious target of securing 23 percent of its primary energy from renewable so ...
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Showing 806 to 810 news of total 6871 |
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- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
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