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Wednesday, 03 December 14
CAPESIZE DRY BULK CARRIERS ENTER 2015 WITH MIXED FORTUNES, WITH A POSITIVE AND A NEGATIVE SCENARIO BOTH EMERGING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The future of the Capesize dry bulk market appears to be engulfed from mixed “feelings” among analysts and market participants, despite the fact of the relatively positive performance of late. The “pessimists”, as described by shipbroker Allied Shipbroking’s latest weekly report, are negative regarding the future prospects of the Capesize market, at least during the first half of 2015, while things are not looking much better for 2015 as a whole. According to Mr. George Lazaridis, Head of Market Research & Asset Valuations, the arguments expressed claim that “with the steel industry being considerably shaken up after the softer results witnessed out of China throughout the year, the market has found itself once again plagued by overcapacity in terms of vessels and excess supply of steel products, possibly marking a further slowdown in steel production growth. Having now en-ered the final month of 2014 and with rates in the final quarter of the year having grossly disappointed the expectations that had accrued from the more promising final quarter of 2013, the market has now been left in shatters in terms of market sentiment, while the headache of the excessive order book continues to loom in the horizon”.
By contrast, those who voice more optimistic views, say that things could very well be better. According to them, “iron ore trade and in particular seaborne trade, has been mainly driven by Chinese demand for almost a dec-ade now and while demand for steel production may well be faltering, it doesn’t not look like we will see an outright reduction in demand for this vital commodity. At the same time, with prices of the ore having dropped to consecutively record 5 year lows over the past months, it has been Chinese internal iron ore production that has been most at threat. Both Australia and Brazil have considerably lower breakeven levels and can sustain their production at price levels considerably lower than their Chinese counterparts. This means that as the price drops further it will likely be seaborne imports that will have most to gain boosting their demand and as such their volumes”, Lazaridis noted.
He added that according to the optimists of the dry bulk market, “the considerable iron ore inventories that have amassed in most major Chinese ports are likely to be consumed fairly quickly by the ramped up Chinese steel produc-tion and at the same time the average levels of port inventories will have to be raised in order to better secure against any disruptions in production as they will be more reliant on imports moving forward”.
As a results, Allied’s analyst wonders which will be the case out of the above different scenarios. According to him, “there may well be an increasing rise for iron ore imports, however Australia has championed as main supplier to China for many years and as things are looking now, they have been gaining further ground during 2014, moving from a 51% market share in 2013 up to roughly a 58% market share now. This means that as their mines ramp up production and gain ground in the market they will likely eat up some of the further away competition as well, countering some of the positive effects of the higher reliance of China on imports, as Aussie ore also takes up volume from longer haul sources as well”.
According to the shipbroker’s view on the 2015 dry bulk market, “as things stand now it looks as a reasonable scenario for Chinese iron ore imports to rise by around 10-15% on a year-on-year ba-sis, while to put this number in perspective the respective number for 2014 looks close to around 16%. Having said that, this rise in imports is possibly going to translate into a more marginal 5% demand growth and even this figure seems to be optimistic. At the same time the schedule of newbuilding deliveries is quite well packed with over 139 vessels currently set to hit the water within 2015, while the lower bunker prices might add another headache as fuel consumption becomes less of an issue and many charter-ers start to push for higher speeds and in turn further increase the total annual carrying capacity of the Capesize fleet”, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 15 December 14
INDONESIAN COAL PRICE REFERENCE CRASHES THROUGH $65
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in December. HBA for t ...
Monday, 15 December 14
CFR SOUTH CHINA COAL SWAP LOST $3.37 M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3,37 (-5.33%) month over month and US$ 1.58 (-2.57%) ...
Monday, 15 December 14
Q1' 15 FOB NEWCASTLE COAL SWAP CLOSED AT $ 51.45 ON 12 DEC
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.45 per MT (-2.74%) closed at US$ 51.45 on 12 December month over ...
Sunday, 14 December 14
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The Baltic Dry Index (BDI), a measure of commodity-shipping costs, fell 12.12 pct to 863 points week ending 12 December 2014.
Th ...
Friday, 12 December 14
LIMITED TRADING AND AN OVERSUPPLY OF TONNAGE PUSHED HANDY SIZE SHIPS TO DOWN IN USG
Handy
We have seen the TA spot market come down this week lead by limited trading and an oversupply of tonnage in the USG, Fearnleys said in its ...
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- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- The University of Queensland
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Larsen & Toubro Limited - India
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