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