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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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Thursday, 27 August 20
BANGLADESH POWER MINISTRY SEEKING AUTHORITY TO CANCEL 13,000 MW OF PROPOSED COAL-FIRED CAPACITY - BUSINESS STANDARD
In a bid to move away from dirty energy, the Ministry of Power, Energy and Mineral Resources is seeking the prime minister’s approval to conv ...
Wednesday, 26 August 20
ASIAN COAL PRICES LIKELY TO REMAIN DEPRESSED SAY TRADERS, ANALYSTS - REUTERS
Asian coal prices, which have fallen around 25% this year as power demand slumped due to the coronavirus outbreak, are unlikely to move higher befo ...
Wednesday, 26 August 20
WORLD COAL EXPORTS: INDONESIAN THERMAL COAL EXPORTS HAVE COME UNDER PRESSURE AS THERMAL COAL PRICES WEAKEN - REPORT
Indonesia’s exports to decline sharply from record highs
Indonesia is the world’s largest thermal coal exporter, sellin ...
Wednesday, 26 August 20
JAPAN'S COAL IMPORTS ARE BEING AFFECTED BY COMPETING INFLUENCES - REPORT
Japan is the world’s third largest thermal coal importer, importing an estimated 135 million tonnes of thermal coal in 2019. The country&rsqu ...
Wednesday, 26 August 20
PENDING SOUTH KOREA LEGISLATION COULD FORCE HALT TO COUNTRY’S COAL PLANT EXPORT DEALS - KOREA ECONOMIC DAILY
South Korea’s parliament looks set to pass new legislation to ban financing on foreign coal power projects, putting all overseas coal-fired p ...
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Showing 811 to 815 news of total 6871 |
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- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
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