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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, 24 March 16
NEWBUILDINGS' PRICES HAVE STARTED TO COME DOWN - ALLIED | HELLENIC SHIPPING NEWS
Newbuildings’ prices have started to come down, as demand has remained subdued for quite some time now. In its latest weekly report, shipbrok ...
Wednesday, 23 March 16
THE PANAMA CANAL - WILL THE MELTING OF POLAR ICE CAPS CREATE RIVAL NAVIGATIONAL WATERWAYS THROUGH THE ARCTIC? - INTERMODAL
The Panama Canal, 102 years after its initial opening, is now about to have its expansion completed with a cost of USD5.25 Billion. It is a project ...
Tuesday, 22 March 16
FOUR NEW MARKET MEMBERS HAVE JOINED GLOBALCOAL
globalCOAL® announced yesterday that four new Market Members have joined its international trading community.
Ferrocadia DMCC is an intern ...
Monday, 21 March 16
INDONESIAN 4200 GAR COAL INDEX ROSE $0.12 OR, 0.44% WEEK OVER WEEK; INDEX CLOASED AT $27.19 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.21 percent week over week to averaging $38.90 per ton on this past Friday, ac ...
Monday, 21 March 16
THE BALTIC DRY INDEX ROSE SLIGHTLY WEEK OVER WEEK; BCI UP 11.93%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued rose this week helped by higher rates for Cape ...
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Showing 2511 to 2515 news of total 6871 |
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- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Australian Coal Association
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