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Wednesday, 11 March 15
DRY BULK MARKET: ALL IS NOT LOST FOR A RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The low cost of commodities across the board could trigger an increase of trade among many countries, which in turn could lead to a recovery of the dry bulk market soon. In its latest report, shipbroker Allied Shipbroking noted that “with commodity prices still under pressure and possibly slipping further as the U.S. dollar gains ground, there could be room for some extra demand to surface down the line. For one, activity in terms of Chinese imports of iron ore have already been on the rise since late February and although this has yet to translate into higher earnings for Capes, the possible competitive edge for Brazilian iron ore, due to the sliding value of Brazil’s real, could lead to a sharp increase in demand for those longer haul routes. This would likely be pushing out some of the locally sourced supply in China, rather than those sourced from Australia, leaving a positive after taste for seaborne trade. This is supported further by the fact that the new price reality of iron ore at bellow US$ 60 per tonne on the spot market, looks more like a level that could be sustained by the more competitive miners of Australia and S. America rather than the local Chinese miners”, said Allied in its report.
According to Mr. George Lazaridis, Head of Market Research & Asset Valuations, “inventories have been on the rise once more, despite the rumours of slowing down steel production in China, giving a sense that this might be a temporary restocking rather than a full blown recovery trajectory many would have hoped for. The Chinese steel sector is still struggling with the slower growth reality, leaving the industry with heavy overcapacity issues and increasing costs due to new environmental laws. With the possibility of part of its excess of 1.1billion tonne annual capacity facing closure, China’s steel production is unlikely to drive the same demand growth of past which is much needed for some of the major dry bulk commodities, namely that of Iron ore and coal. With both of these commodities taken up in their majority by the capsize market and China having accounted for the lion’s share in their seaborne trade, it will likely be these larger dry bulkers which will find themselves facing the most difficult conditions. It has been no surprise therefore that during the past weeks were all other size segments have shown an improvement from their previous lows in the freight market, Capes are still under considerable pressure and have even managed to slide below an average rate of US$ 5,000 per day in the spot market. Any strong improvement as that proposed above, is looking likely to only be a temporary one as things stand now”, Lazaridis noted.
He added that ‘yet it’s not all bad news as it seems for the dry bulk market. Much of this recent improvement in the smaller size segments is likely to intensify further over the coming months, as the strong performance of the Atlantic basin is slowly getting primed to be hit by the influx of ECSA’s grains. What’s more is that although the grain production is estimated to only be moderately higher than that of last year (while Argentina has already announced that it may lower its previous estimates for the 2014/15 season due to the heavy rains faced recently), the much lower prices could create interesting arbitrage amongst markets, leading to higher trade volumes and possibly an even higher increase in tonne-mile demand. The question is that this is only seasonal and once these grain stems are gone what’s left to drive the market forward over the seasonally softer summer months?”, Lazaridis wondered.
He concluded his analysis by mentioning that “overall it looks like 2015 is turning out to be exactly what most feared it would, though it won’t all be like the “blood bath” that we have witnessed during the first months of the year. The truth of the matter is that the commodity boom of the past seems long gone now and we need to be more moderate moving forward in order to better accommodate the new “Status quo”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 13 March 15
U.S. COAL PRODUCTION UP 2.3% WEEK OVER WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.5 million short tons (mmst) of coal ...
Friday, 13 March 15
ADARO RECORDED A 7% INCREASE IN EBITDA OF $877 MILLION IN 2014
“Coal market continues to be difficult and challenging” – Adaro Energy
The world’s Top 5 thermal coal exporter, ...
Thursday, 12 March 15
CAPESIZE : ACTIVITY IS LOW; PANAMAX: BIT MORE ACTIVITY; HANDY: A FIRMING WEEK
Handy
It has been a firming week in both hemispheres this week and especially in the Pacific, says Fearnleys AS in its week's week report.
...
Thursday, 12 March 15
COAL MINERS REMAIN UNDER PRESSURE AS GLUT CONTINUES - THE JAKARTA POST
Indonesia’s major coal miners reported a significant drop in their earnings last year as the sharp drop in the global demand, mainly from Chi ...
Thursday, 12 March 15
FOB INDONESIA COAL SWAP DROP TO $47.33 A TON IN THE WEEK ENDED MAR.6
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 0.37 (0.78%) month ...
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- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Planning Commission, India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
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