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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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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 ...
Monday, 09 March 15
CHINA'S IMPORTS - NEVER MORE IMPORTANT TO SHIPPING? - CLARKSONS
Over the last 15 years China has led maritime forecasters a right old dance. In 2002, rumours that Chinese iron ore imports were about to take off ...
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- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
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