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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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Monday, 07 March 16
INDONESIAN 5700 GAR COAL INDEX DECLINE $0.05 A TON WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.28 percent week over week to averaging $38.66 per ton on this past Friday, ...
Monday, 07 March 16
FREIGHT MARKET MOVING POSITIVE; ALL SEGMENTS EXCEPT CAPE SHOWING A FIRM TREND
COALspot.com: The freight market was steady this past week and showing a firm trend for all segments except for Cape index.
The Baltic Dry Ind ...
Friday, 04 March 16
GLOBAL ECONOMY'S JITTERS ARE SLOWING DOWN SHIPPING EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The global economy’s shaky condition to say the least is now hampering growth and as a result demand for shipping is slowing down, something ...
Friday, 04 March 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 109.3 MMST; 30.2% LOWER THAN THE COMPARABLE YEAR-TO-DATE COAL PRODUCTION IN 2015 - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 million shor ...
Thursday, 03 March 16
INDIA'S BUDGET NOT ENOUGH TO BOOST STEELMAKERS' PROFITABILITY - FITCH RATINGS
COALspot.com: Fitch Ratings says that increase in proposed infrastructure spending in India's latest government budget is unlikely to provide a ...
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Showing 2536 to 2540 news of total 6871 |
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- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
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