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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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Friday, 22 January 16
WEEKLY US COAL PRODUCTION ESTIMATES ALMOST FLAT
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.3 million shor ...
Friday, 22 January 16
COAL PRICES TO REMAIN UNDER PRESSURE THIS YEAR
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month and week over week. The falling trend of prices for coal was continuing ...
Friday, 22 January 16
Q3' 16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 40.80; DECLINE $ 2.80 M-O-M
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and decline week over week.
The Q1’ 2016 FOB Richards B ...
Wednesday, 20 January 16
Q3'16 FOB NEWCASTLE COAL SWAP CLOSED $ 2.40 LESSER THAN Q1'16 CLOSING PRICE OF $ 38.10
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $0.77 per ton (2.06%) this past week compared to the sam ...
Wednesday, 20 January 16
SHIPPING MARKET INSIGHT - NASOS SOULAKIS
If you believe in the “January effect”, the theory according to which the beginning of a new year has a positive effect on financial in ...
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- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- White Energy Company Limited
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- The University of Queensland
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
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