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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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Wednesday, 10 February 16
OWNERS APPEAR WILLING TO DISPOSE OF TONNAGE THE SOONEST IT HITS THE 10 YEAR MARK - TIMOS PAPADIMITRIOU
COALspot.com: The last two months of 2015 made a case for traditional shipowners to invest in the dry bulk sector, doing so though based purely on ...
Monday, 08 February 16
DRY-BULK SHIPPING DIVING DEEP
COALspot.com: The freight markets continued to fall this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of glo ...
Monday, 08 February 16
DRY BULK: SHIPBROKER SEES BDI MARKET REACHING LOW POINT OF 236 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The endless pit that is the dry bulk market over the past two months, has been the issue of debate among ship owners, shipbroker and analysts alike ...
Friday, 05 February 16
COAL INDIA EYES COAL MINES IN SOUTH AFRICA - PTI
“Coal India Ltd has plans of acquiring coal mines in South Africa,” an official said. It is looking at acquiring mines in partnership w ...
Friday, 05 February 16
U.S. WEEKLY COAL OUTPUT ROSE 4.2% TO 13.6 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.6 million shor ...
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- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
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