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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, 28 January 16
RICHARDS BAY COAL SWAPS FOR Q1,Q2 AND Q3 DELIVERIES FIRM THIS PAST WEEK
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap rose month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coa ...
Wednesday, 27 January 16
API 5 FOB NEWCASTLE COAL SWAPS CLOSE MIXED
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.17 per ton (3.13%) this past week compared to the sam ...
Wednesday, 27 January 16
CHINA'S STALLING ECONOMY HAS HAD A GREAT EFFECT ON VARIOUS COMMODITIES; DECREASED DEMAND DRIVING COMMODITY PRICES LOWER AND LOWER - LINOS ALEXANDROS KOGEVINAS
Having gone through the first few weeks of 2016, it’s starting to look like another challenging year is ahead of us. Hopes for a recovery in ...
Wednesday, 27 January 16
WORLD HARD COAL PRODUCTION AND CONSUMPTION DECLINE IN 2015 FOR THE FIRST TIME IN OVER A DECADE - VDKI
COALspot.com: Seaborne hard coal trade and the changes in this area were decisively affected by China and India - VDKi.
China bears the g ...
Tuesday, 26 January 16
Q3'16 CFR SOUTH CHINA COAL SWAP DROPPED BELOW $41 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.82 (1.94%) per ton month over month.
A commodity swap is ...
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Showing 2586 to 2590 news of total 6871 |
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- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- MS Steel International - UAE
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
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