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Thursday, 26 February 15
DRY BULK MARKET LOOKING FOR POSITIVE MOMENTUM, BUT PROSPECTS REMAIN DIM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 As the Baltic Dry Index (BDI) inched a bit higher over the past couple of sessions and the Chinese are returning to the market after a week long hiatus, most market delegates are looking to see if the market will bounce back. According to the latest weekly report from shipbroker Allied Shipbroking, “the truth is that commodity prices have still remained at relatively low levels despite a slight uptick these past couple of weeks. Both Iron ore and coal have noted an improve-ment compared to where they stood in early February, while iron ore inventories at China’s main ports are reported to be sloping down to 96 million dry tonnes with in-creased momentum”.
According to Mr. George Lazaridis, head of Market Research & Asset Valuations with Allied Shipbroking, “this last point of low iron ore inventories is key, as we hadn’t seen this low inventory levels since early 2014, and while they might not be anywhere close to the low levels that were being reported in late 2012 and the majority of 2013, it still leaves some optimism for extra trading to take place as steel production is still rumoured to be at levels much higher than it was back then. Nevertheless, it doesn’t point to an overwhelming surge in demand the coming month, while reports of a slower harvest for grains this year, leaves further disappointment with regards to the potential of the seasonal spikes that typi-cally emerge during the year”.
However, as he noted, “signs of an improvement are still in sight, with a number of inquiries from West Austral-ia having already emerged and a number more rumoured to be under way. Yet many always place most of their hope on a surge in demand from South America, which is usually the one that ramps up the required tonne-miles and boosts utilisation rates by a bigger degree. In terms of grain cargoes, this was one of the main areas of disappoint-ment last year, with many having expected a stronger level of grain cargoes to come to market from ECSA, while at the same time Brazil had also lost some of its market share in the iron ore trade, meaning that a lower percent of new volume coming in was sourced from there. The latter is looking unlikely to change for the time being while the recent allowance of the large Valemaxes to enter Chinese ports might deteriorate the situation here further. This points more to a continuation of the current “status quo” rather than any major positive or negative shift and likely means that once again indica-tors point to an overall lacklustre performance for 2015″, Lazaridis said.
He went on to note that “therefore it is ever more imperative that the fleet growth is kept under check. Steps towards this end have already been taken to some degree, with a number of new order swapping having already taken place and a good number of overage units having al-ready been sent to be scrapped. This needs to further intensify during the year, allow-ing for a better balance between demand and supply. For the moment the fundamen-tals don’t seem to be there yet to support a claim for seeing similar trade growth levels as has been seen the past 5-6 years. China, the world second largest economy has yet to find its foothold, so as to be able to spur on growth, while many believe that econom-ic growth within the country has slowed down more than the official line reports. Politi-cal and economic turmoil in Europe is not helping either, with the almost stagnant Med/ Black Sea dry bulk trade being a strong indicator of this. It turns out that supply will play a more crucial role this year then what it has in the past, as it seems that it now holds the potential to really chock the market during one of its most difficult periods”, Lazaridis concluded.
In terms of demolition activity this past week, shipbroker Intermodal noted that “the trend of falling demolition prices finally came to a halt last week, which ended with prices across the board sustaining their levels from the week prior. As a result, slightly positive sentiment started building up, with market players still cautious but hopeful at the same times that maybe the market has found some sort of support around these levels. Amidst slowing down Chinese scrap steel imports last week, the Indian subcontinent market appears to indeed have caught a break, while this past week also marked the return of India back into action. Breakers in the country were quick to snap a number of available demo candidates ahead of the government’s budget announcement at the end of the month. Hopes that the budget announcement could bring along some sort of tax imports on Chinese steel, which would certainly boost demo prices in the country, has in fact rushed local breakers to position themselves in a market that could sooner rather than later be enjoying some upside. Prices this week for wet tonnage were at around 240-400 $/ldt and dry units received about 215-375 $/ldt”, the shipbroker said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 24 March 15
A WEAK WEEK FOR FOB INDONESIA COAL SWAP
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 2.48 (5.12%) month ...
Tuesday, 24 March 15
RICHARDS BAY COAL SWAP FOR DELIVERY Q2 CLOSED $ 1.87 HIGHER COMPARED TO Q3 CLOSING PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has dropped U ...
Tuesday, 24 March 15
ARGUS MEDITERRANEAN SOLID FUELS 2015 CONFERENCE | 2-3 JUNE, ISTANBUL
Press Release: Argus Media is proud to announce Argus Mediterranean Solid Fuels, which will be held in Istanbul,on 2-3February.
Argus produces ...
Monday, 23 March 15
IS OIL GETTING READY TO PLUNGE BELOW $40? - FORBES
KNOWLEDGE TO ELEVATE
In my last crude oil market update in late-February, I expressed my skepticism toward the oil price rebound. Since then, ...
Monday, 23 March 15
Q4' 2015 FOB NEWCASTLE COAL SWAPS DECLINED 6.79% M-O-M; 2.55% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.42 per MT (-6.33%) month over month and US$ 1.37 (-2.77%) we ...
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- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- The University of Queensland
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Planning Commission, India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
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