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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, 03 March 16
BDI FURTHER STRENGTHENING; THE INCREASE IN RATES WAS NOT SUBSTANTIAL
COALspot.com: The BDI closed off on a positive note for a second week in a row, further strengthening the belief that the market might be bottoming ...
Thursday, 03 March 16
RIO TINTO COMPLETES SALE OF INTEREST IN BENGALLA JOINT VENTURE FOR US$616.7 MILLION
COALspot.com: Rio Tinto has completed the sale of its 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation ...
Wednesday, 02 March 16
RE-EVALUATION OF MINING LICENSES CLEAN AND CLEAR STATUS IN INDONESIA
COALspot.com: In connection with the transfer of mining authority from Regents/Mayors to Governors1 and from Regents/Mayors and Governors to t ...
Wednesday, 02 March 16
OIL MY GOD.....!!!!
OIL my GOD….!!!!
The oil price “crash” that started in 2014 was caused by a glut of practically unwanted oil. Producers had be ...
Tuesday, 01 March 16
CS 42 (4200 GAR) COAL INDEX CLOSED AT US$ 27.11 A TON ON 26 FEBRUARY
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.31 percent week over week to averaging $38.77 per ton on this past Friday, ...
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- Planning Commission, India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
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