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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 most ship owners. In fact, with the FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is still the “name of the game” in the dry bulk market. In its latest report, shipbroker Intermodal noted that “apart from from the existing tonnage surplus, for which we have talked a lot during the last years, anemic global growth and demand for dry bulk commodities have also pushed the BDI to its lowest historical point”.
Attempting to provide some insight as to what factors have contributed to this negative development, Intermodal’s SnP broker, Mr. Yannis Olziersky said that “the decline of coal trade due to low demand from China is causing a big “headache” to Capesize and Panamax owners. Imports to China have been significantly reduced, since the local government is trying to shift away its dependency to coal for electricity production, to other renewable sources of energy. Despite that other countries like India have increased coal imports but that has so far proved inadequate to substitute entirely the fall in Chinese imports. As a result, many Panamaxes and capers, which were engaged in coal trade, are shifting to iron ore trade where in terms of transferred volume we are witnessing a healthy trade growth despite the fact that rates here have also plummeted”.
At the same time, “iron ore exports to China from Australia and Brazil rose as stockpiles in Chinese ports had hit a 12-month low in the beginning of the year. Low iron ore price together with cheap transportation cost and Chinese New Year festivities around the corner is the reason behind the increased volumes of iron ore imports. This increase has helped the Capesize market to slightly pick up from its historical lower point ever recorded in January and witness improved rates, which nonetheless are still far from what could be described as decent”, Olziersky said.
The shipbroker’s analyst added that “headlines regarding the dry bulk market are mostly negative these days, however in this bearish market there are some news which could be interpreted as positive signs, something that market needs since this “crisis” is not only driven by its fundamental problems but also by sentiment. On one hand, iron ore imports could be soon increasing as demand from the Chinese steel industry is expected to rise on the back of the recently announced plan by the Chinese government to invest heavily (around USD1 trillion) in infrastructure projects as an attempt to support growth”.
According to Olziersky, another silver lining could be the fact that “activity in dry bulk demolition activity has increased the last month as a result of declining freight rates. As a matter of fact, in just one month’s time the number of Capesize vessels that was sold for scrap reached the number of Capesizes scrapped during the whole of 2014. Under this freight environment it is very likely that this trend will continue, helping the market alleviate some of the abundant tonnage. Finally, new building activity is declining because of both the current negative environment and also lack of finance to support these projects as a result of this environment. Also some contracted dry projects which have not commenced are now being swapped to wet projects allowing the substantial dry bulk order book to take a much needed breath”.
He concluded his analysis by noting that “a “perfect storm” is currently taking place in the Dry Bulk market. Overcapacity, anemic global growth, lack of demand for dry bulk cargoes and bearish sentiment amongst players, have all come together and pushed the market to its lowest point since 1986. But let’s not forget that during “perfect storms” there are always opportunities, as these are the exact points in a cycle when asset values hit attractive lows that makes investing suitable for asset play opportunities and fleet renewals, especially for those who have sat in the sideways all these years waiting for this exact “perfect storm””, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 17 February 15
FOB SUB-BIT INDONESIA COAL SWAP UP 8% MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 3.58 (+8.00%) month o ...
Tuesday, 17 February 15
Q2' FOB RICHARDS BAY COAL SWAP CLOSED AT $63.45; $ 1.85 HIGHER COMPARED TO Q4 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month, week on week and day on day.
The Q2 swap has ...
Monday, 16 February 15
COAL MINING SLUMP A BLESSING IN DISGUISE - THE JAKARTA POST
The growth of the coal-mining industry, which has diminished in the last two years, is expected to slump even further this year following weakening ...
Monday, 16 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 1.31 per MT (+2.59%) week over week and US$ 4.35 (+9.13%) month on ...
Monday, 16 February 15
Q2' 15 - CFR SOUTH CHINA COAL SWAP ROSE 5.22% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 2.88 (+5.22%) per MT month over month and US$ 1.08 (+1.90% ...
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- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
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