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Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
 It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year so far. With a nearly constant stream of negative news continuing to emerge across each of the key dry bulk cargo sectors, it is almost as if Poseidon, the Greek god of the sea, has with his powerful trident launched a three-pronged attack.
Down To The Ocean Depths
The current depression is indeed severe. The Baltic Dry Index, a daily indicator of bulkcarrier rates, fell to its 19th consecutive record low of 317 points on 29th January. This is far below the average of 718 points in 2015, which itself was the second lowest annual average on record, and represented a year in which bulker earnings averaged around $7,000/day, little over estimated operating costs.
Surprise Attack
Of course, difficult market conditions are nothing new. Bulker earnings have been under pressure since 2011, when more than 100m dwt of deliveries kept fleet growth in double-digits. Whilst fleet growth eased to 2.4% in 2015, the slowest pace in 16 years, new demand-side pressures emerged, with dry bulk trade remaining flat last year. In Greek mythology, Poseidon’s trident had the power to cause earthquakes on earth, and there has certainly been evidence of a shake up recently. But where have each of the three prongs hit, and how sharply?
Strikes To The Core
The first earthquake is being felt in the iron ore trade, which accounts for around a third of dry bulk trade. Following rapid growth of 15% in 2014, Chinese imports eased in 2015, and expansion in iron ore trade slowed during the year (see graph). Overall, global iron ore trade is estimated to have grown by only 2% in 2015, and continued weak Chinese steel demand and the temporary closure of several major iron ore ports in January has done little to reverse this trend into 2016 so far.
The second shake up has hit trade in coal, which accounts for a quarter of dry bulk trade, very hard. Volumes declined by an estimated 5% in 2015, and the decline in volumes on the top 100 coal trade flows neared 10% y-o-y in Q3 2015, as Chinese and Indian imports fell. With several countries looking to increase reliance on clean energy sources, a major improvement in volumes seems unlikely.
Shifting The Currents
Finally, whilst the third earthquake has perhaps been less obvious than the first two, it has still had a significant impact. Growth in minor bulk trade, a diverse cargo grouping that accounts for more than a third of dry bulk trade volumes, was limited to 1% last year, owing in part to lower Chinese demand for imports of forest products, steel products, nickel ore, and various other smaller cargoes.
Stem The Tide?
So, the seas have been exceedingly stormy in the dry bulk sector. The impact from China’s economic transition is still resonating, and as yet there are few signs of an imminent improvement. As distressed conditions take their toll, hopes will be that the power of Poseidon’s trident will eventually start to ebb.
Source: Clarksons | Hellenic Shipping News
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Thursday, 07 April 16
PANAMAX RATES ARE FIRMING IN BOTH HEMISHEPHERES - FEARNLEYS
Capesize
With a great volume our of west Australia, rates were finally moving to upper 3's. and stabilizing towards the middle of the week in ...
Thursday, 07 April 16
BIMCO AND GIIGNL PUBLISH A GROUNDBREAKING VOYAGE CHARTER PARTY FOR LNG TRADE
BIMCO and the International Group of Liquefied Natural Gas Importers (GIIGNL) have today jointly issued the first definitive voyage charter party & ...
Wednesday, 06 April 16
HOW LONG SHIPPING CRISIS WILL BE; WHEN SHOULD OWNERS EXPECT THE BULK CARRIERS TO BECOME PROFITABLE? - INTERMODAL
It is the consensus that dry bulk shipping has been in a crisis for quite some time now. Bulk carrier values are at historical low levels, therefor ...
Tuesday, 05 April 16
DRY BULK REVISITS 1980S LOWS AND FACES UNCERTAIN LONGER TERM OUTLOOK - MSI | HELLENIC SHIPPING NEWS
With the market near bottom, attention is turning to the length of the downturn, the effect on asset values and the impact of broader demand side c ...
Monday, 04 April 16
THE LOADING, AND SUBSEQUENT DISCHARGE, OF UNSAFE NICKEL ORE - ALL TIME TO 'COUNT' - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a recent, published, London arbitration award the English tribunal has held that all time lost as a result of loading, ...
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Showing 2491 to 2495 news of total 6871 |
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- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- PTC India Limited - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
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