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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 $/ldt”, the shipbroker said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 05 March 15
INDIA WILL BE THE LARGEST DRIVER OF GLOBAL SEABORNE COKING COAL DEMAND GROWTH IN 2015 - WOOD MACKENZIE
Global demand growth will remain weak because of China’s negative demand growth.
COALspot.com: At Coaltrans India, Wood Mackenzie says I ...
Thursday, 05 March 15
BUKIT ASAM BOOKED US$ 1 BILLION REVENUE IN 2014
COALspot.com: Indonesian publicly listed and state owned coal miner PT. Bukit Asam, has announced that, the revenue of the company for the period J ...
Wednesday, 04 March 15
AN AGENDA FOR CHANGE - FITCH INDONESIA CONFERENCE
Fitch Indonesia Conference - 5 March 2015
Fitch Ratings will host its annual Indonesia conference on 5 March 2015.
The theme of this year ...
Wednesday, 04 March 15
KEEP CALM AND INVEST IN DRY - THEODORE NTALAKOS
Keep Calm and Carry On was originally a motivational poster, intended to raise the morale of the British public, produced by the British government ...
Tuesday, 03 March 15
INDONESIAN COAL EXPORT VOLUME TO DECLINE 50% BY 2019
COALspot.com: The Indonesian government is planning to reduce coal export volume by 50% within the next five years while keeping its coal productio ...
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- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Central Electricity Authority - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
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