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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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Tuesday, 19 January 16
HAPPY NEW YEAR, COAL PRODUCERS! OR MAYBE NOT - ANDY ROBERTS
To coal producers, 2015 must have seemed far longer than 365 days. From their perspective, as bad as markets were at the beginning of the year, and ...
Tuesday, 19 January 16
COALTRANS ASIA IS RETURNING TO BALI
22nd Coaltrans Asia
Coaltrans Asia is returning to Bali to bring together over 1000 industry decision makers and thought leaders for three day ...
Monday, 18 January 16
INDONESIAN 5700 GAR COAL INDEX ROSE 0.60% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline slightly week over week to averaging $39.93 per ton on this past Friday, acc ...
Monday, 18 January 16
BALTIC DRY SHIPPING INDEX DROPS TO 373 POINTS; DECLINE 13% WEEK OVER WEEK
COALspot.com: The freight market dropped this week as the BDI declined further 13 percent to 373 points week over week. The Cape index ...
Monday, 18 January 16
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 42.50 PER TON; UP 1% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.43 (1.02%) per ton month over month.
A commodity swap is ...
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- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
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