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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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Wednesday, 11 March 15
RICHARDS BAY COAL SWAPS DROP $ 3.65 - 4.0/T W-O-W
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 fell US$ ...
Wednesday, 11 March 15
DRY BULK MARKET CLOSED OFF ON THE GREEN FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The Dry Bulk market closed off on the green for a second week in a row, while the performance of Capesizes hindered a more substantia ...
Wednesday, 11 March 15
MARKET INSIGHT : NEWBUILDINGS - PANOS TSILINGIRIS
From a cost-based, buy-low perspective, there is currently a buying opportunity in the second-hand dry bulk market. I am an anti-cyclical (buy-low) ...
Wednesday, 11 March 15
U.S. ELECTRIC GENERATING COMPANIES TO ADD MORE THAN 20 GW OF GENERATING CAPACITY IN 2015; 16 GW OF GENERATING CAPACITY IS EXPECTED TO RETIRE IN 2015
COALspot.com: In 2015, electric generating companies in U.S. expect to add more than 20 gigawatts (GW) of utility-scale generating capacity to the ...
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 ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
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