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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, 10 March 16
IT FEELS SAFE TO SAY THAT THE MARKET IS SLOWLY AND PAINFULLY REGAINING ITS BALANCE
With the BDI marking its third consecutive positive weekly closing, it feels safe to say that the market is regaining its balance; slowly and painf ...
Wednesday, 09 March 16
U.S. COAL EXPORTS DECLINED 24% (74 MMST) IN 2015; COAL PRODUCTION IS EXPECTED TO DECREASE BY 111 MMST IN 2016 - EIA
U.S. Coal Supply
EIA estimates that U.S. coal production for February 2016 was 54 million short tons (MMst), a 4 MMst (7%) decrease from the prev ...
Wednesday, 09 March 16
RI MAY HAVE TO IMPORT COAL FOR FUTURE POWER PLANTS: STUDY - THE JAKARTA POST
With coal prices continuing to decline, Indonesia will struggle to provide the coal needed to fire up its power stations in the near future, a stud ...
Tuesday, 08 March 16
INDONESIA HIKES COAL BENCHMARK PRICE FOR THE FIRST TIME IN 12 MONTHS
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016, but up slightly in Mar ...
Tuesday, 08 March 16
THE DRY CARGO MARKET ENDURED ONE OF ITS MOST DIFFICULT YEARS IN 2015, EXPERIENCING LOWS NOT SEEN SINCE THE MID 1980S - CLARKSONS
Whilst shipping and offshore markets have seen some good opportunities during 2015, overall there have been unprecedented challenges, so we are ver ...
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Showing 2531 to 2535 news of total 6871 |
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- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Planning Commission, India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- McConnell Dowell - Australia
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