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