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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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Friday, 11 March 16
ADANI GLOBAL BAGS 0.26 MILLION TONS OF COAL CONTRACT FROM LANKA COAL COMPANY
COALspot.com: Lanka Coal Company (Private) Limited, Sri Lanka has awarded 260,000 +/- 10% tons of Power plant 6300 GAR calorific value coal to Adan ...
Friday, 11 March 16
US WEEKLY COAL PRODUCTION DOWN BY 0.5 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.6 million shor ...
Friday, 11 March 16
FORTESCUE'S MOU WITH VALE COULD STRENGTHEN ITS BUSINESS PROFILE - FITCH
COALspot.com: Fitch Ratings says that Australia-based Fortescue Metals Group Limited's (BB+/Negative) memorandum of understanding (MOU) with Br ...
Thursday, 10 March 16
CHINA'S NEW POLICY PLAN COULD BE POSITIVE FOR SHIPPING, BUT TARGETS SEEM RATHER AMBITIOUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China set out its new policy plan during the course of the past weekend, but it seems to have set some very ambitious goals, which could be difficu ...
Thursday, 10 March 16
U.S. COAL EXPORTS DECLINED 23% IN 2015, AS COAL IMPORTS REMAINED STEADY
COALspot.com: The United States remains a net exporter of coal, exporting 74.0 million short tons (MMst) and importing 11 MMst in 2015.
Accord ...
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- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Planning Commission, India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- VISA Power Limited - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
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