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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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Tuesday, 15 March 16
PORT OF NEWCASTLE SHIPPED 12.78 MMT OF COAL IN FEBRUARY 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped AU$1,110.5 mi ...
Tuesday, 15 March 16
ADARO ENERGY LOWERED ITS COAL CASH COST BY 16% TO US$ 27.98 PER TONE IN 2015
Difficult Coal Market Condition Persists in 2015, Adaro Lowers Costs, Reduces Capital Spending and Maintains Solid Liquidity.
PT Adaro E ...
Monday, 14 March 16
THE CS 50 INDEX ROSE $0.16 OR, 0.41% TO $38.82 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.41 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 14 March 16
THE BALTIC EXCHANGE CONTINUED TO ROSE THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rise this week helped by higher rates for pa ...
Saturday, 12 March 16
PLN, COAL COMPANIES IN TALKS ABOUT PRICES - THE JAKARTA POST
Following a study that predicted that Indonesia would struggle to provide coal for its power stations in the near future, the government will facil ...
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- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- The University of Queensland
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
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