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Monday, 12 January 15
FREIGHT MARKET: 2015 FLEET SUPPLY GROWTH IS EXPECTED TO REMAIN SLIGHTLY AHEAD OF CARGO GROWTH - SGX
 COALspot.com: The dry bulk freight market was forced to digest a number of negatives in 2014 leading the Baltic Dry Index to fall 66% through the year, SGX says in its “ Commodities 2014 - A year of the bear” report.
According to SGX, the Capesize market was the most volatile, with average 30-day annualized volatility of 83%. While seaborne iron ore demand was strong, the market was hampered by weaker coal trade, negative macro news, tighter credit in China, and lower Indonesian exports among other factors. Looking forward, a continued high order book (relative to historical standards) paints a relatively cautious picture for the year ahead.
Hopes of a freight rate recovery were shattered with 2014 producing the second worst year in the past decade for vessel earnings, SGX noted.
The Baltic Dry Index (‘BDI’) fell 66% to end the year at 782. Across vessel types, Capesize rates closed the year down 88% from the beginning of the year. Panamax, Supramax and Handysize rates declined 53%, 38% and 39%, respectively. The BDI showed signs of recovery both in the middle of the year and in the last quarter, but both recoveries quickly stalled.
The report further said that, roughly two-thirds of dry bulk freight activity is driven by iron ore, coal and steel. While seaborne iron ore and steel demand have remained strong, the year has digested a number of negatives, including: (i) weaker coal trade as Chinese imports have declined; (ii) negative macro news and credit tightening in China; (iii) the Indonesian ban on nickel ore/bauxite/iron ore exports; and (iv) less congestion from shippers in South America. Broadly speaking, supply has outstripped demand, and in 2015 fleet supply growth is expected to remain slightly ahead of cargo growth.
In shipping, supply side dynamics manifest in two ways – (i) number of ships on seas plus the new deliveries, and (ii) speed of the vessels. In anticipation of rising demand for these dry bulkers, the shipping industry responded affirmatively on both fronts: not only were there more vessels, but many also reportedly sped up their fleets. Even though the demand for vessels in the cape segment has grown, the tonne-mile demand in 2014 shrunk, chiefly due to much of the iron ore supply being delivered on short haul routes. However, in the Panamax category, while the order book touched a 5-year high of 53% in 2010 followed by a 5 year low of 23% in June 2013, the current order book for these vessels at 33% looks a bit apprehensive given demand side challenges.
At any one time, there are about 1,000 vessels in the Singapore port.*
*Singapore Maritime Port Authority
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Thursday, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for ...
Thursday, 12 February 15
INDONESIAN COAL PRICE REFERENCE INCHED DOWN 1.44% IN FEBRUARY
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 62.92 pe ...
Thursday, 12 February 15
NEWBUILDING ORDERING ACTIVITY DRAGS ON, AS OWNERS ARE LOOKING FOR LOWER PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners appear to be waiting for lower prices in their dealings with Asian shipyards, as the dry bulk market is at historical lows. According t ...
Wednesday, 11 February 15
DRY BULK MARKET REMAINED UNDER PRESSURE : STABILIZING CAPE MARKET HARDLY HELPED SENTIMENT
COALspot.com: The Dry Bulk market remained under pressure last week, while the stabilizing Cape market hardly helped sentiment.
Greece based s ...
Wednesday, 11 February 15
BDI HITTING THE ALL-TIME LOW; FFA MARKETS NOT SHOWING ANY POSITIVE SIGNS
With the BDI hitting the all-time low and with FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is ...
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- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
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