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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 $/ldt”, the shipbroker said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 10 March 15
OIL PRICE FORECASTING - IGNORE THE EXPERTS: COLIN MARSHALL
KNOWLEDGE TO ELEVATE
Experts put themselves on a pedestal, making claims to have special forecasting abilities for oil price trends. They, too ...
Tuesday, 10 March 15
FOB NEWCASTLE COAL SWAPS HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 0.24 per MT (-0.47%) month over month and US$ 1.52 (-2.93%) we ...
Tuesday, 10 March 15
CFR SOUTH CHINA POWER-STATION COAL SWAPS DECLINE
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery fell US$ 0.42 (-0.74%) per MT month over month and declined US$ 1.00 &nbs ...
Monday, 09 March 15
INDONESIA GREETS INDIA RATE CUT AS GOOD FOR EXPORTS - GLOBEASIA
Indonesian commodity producers and economists have hailed the Indian central bank’s rate cut as good for boosting exports from Southeast Asia ...
Monday, 09 March 15
CHINA'S SUPREME COURT ISSUES NEW JUDICIAL INTERPRETATION ON SHIP ARREST AND JUDICIAL SALE OF SHIPS - GARD
KNOWLEDGE TO ELEVATE
China is not traditionally a popular jurisdiction for ship arrest. However, Members and clients with ships calling at por ...
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- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Planning Commission, India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
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