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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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- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
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