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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, as market delegates are looking for ways to cope with the record low freight rates and determine whether the market will go next. In its latest weekly report, shipbroker Allied Shipbroking said that “with January having closed off with record lows on almost all dry indices (the exception is for the Capesize index which thanks to a small rally during the final week managed to prop slightly higher than the low of 185 points that was achieved on the 19th), many are feeling the pressure and are worried that this market has no bottom and has turned into an endless black hole”.
According to Allied’s Head of Market Research & Asset Valuations, Mr. George Lazaridis, “the initial resistance point many believed the market would reach was at 345 in the BDI. This was reached this Tuesday, with quick softening followed on subsequent days easily breaking below this level. The next point in sight that it seems should provide some resistance to further drops should be at around 298 points”. This was also reached on Thursday, while Friday’s session saw thw BDI closing at 297 points. Lazaridis said that “to put this index value into perspective and given the current state of each of the individual markets, this point would refer to average TCE rates of the Capesize at around US$ 2,618pd, that of Panamaxes at US$ 2,161pd, Supramaxes at US$ 2,989pd and that of Handysizes at US$ 3,034pd.”
Yet, the main question still remains as to if this will really be a resistance level that will be hard to break. According to Lazaridis, “Logically there is a level at which the market just doesn’t make sense for anyone to trade below that point. This however depends on a number of factors with most prominent that of the time period that has passed under which the market has been receiving “subpar” rates. To explain this further, owners might be willing to accept abnormally low freight rates if they know it will only be for one-two voyages (i.e. it is a small glitch in the market). However, it is nonsensical to continually trade for long periods of time at a constant loss. Therefore, given the fact that we have been seeing these poor freight levels for around two months now and given the rumours of many owners in the market already looking seriously into their options in terms of cold lay-up, it makes sense to assume that we are under the case of the latter and are likely going to hit a level deemed as the absolute low the market can sustain for now”, Allied’s analyst noted.
He added: “Noting at the same time that we have already seen a break in the consecutive negative days posted in the Capesize market, it looks as though we can presume that this size segment might well have reached its absolute low under the current market conditions, fluctuating thereafter at levels just above and just below this until the market finds a foothold from where to improve. Taking the same premise however on all the other size segments and we see that this next theoretical resistance point will likely be reached easily within this week and could possibly drop even further”.
According to Lazaridis, “a more reasonable resistance level is likely going to prove to be at 236 points on the BDI, a level that will be hard to reach as it will require the combination of all four size segments reaching their theoretical “breaking points” at the same time, but given the market conditions we have seen over the past month, it doesn’t sound like it’s an unthinkable scenario either. Nevertheless, all this will prove to be theoretical, as in practice the market may well have further surprises down the road. The current levels are already well below what the majority of owners can sustain given their OPEX levels, as such pushing more and more to take up options such as that of scrapping or layingup vessels and in turn helping improve the supply side of things”. On the demand side of things many are hopeful of slightly better interest from Charterers after the Chinese New Year, however these hopes have faltered in the past and may well do again”, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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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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- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Planning Commission, India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
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