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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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Sunday, 15 February 15
BALTIC DRY INDEX CONTINUALLY DIPPED IN RED
COALspot.com: The Baltic Dry Index continues its decline and fell 5.18 pct to 530 points week on week due to falling commodity prices and declining ...
Saturday, 14 February 15
SHALE GAS AND TIGHT OIL ARE COMMERCIALLY PRODUCED IN JUST FOUR COUNTRIES - EIA
KNOWLEDGE TO ELEVATE
The United States, Canada, China, and Argentina are currently the only four countries in the world that are producing com ...
Friday, 13 February 15
U.S. WEEKLY COAL PRODUCTION SHOWS 10% DECLINE
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.1 million short tons (mmst) of coal ...
Friday, 13 February 15
SMALL AND MEDIUM-SIZED SHIP OWNERS SQUEEZED OUT OF THE MARKET ON CRASHING DRY BULK MARKET AND EUROZONE CRISIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Financing issues have started to tighten the noose in the throats of small and medium-size ship owners, who were already facing problems over the p ...
Thursday, 12 February 15
CAPESIZE: THE BEST DESCRIPTION FOR THE MARKET IS, FLAT - FEARNRESEARCH
Handy
The handy and supra market is also being affected by the marginal volume of activity in the commodity sales. We see a small upturn in the T ...
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- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- London Commodity Brokers - England
- The University of Queensland
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
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