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Wednesday, 04 May 16
IS THE DRY BULK MARKET OUT OF THE WOODS YET, OR NOT? - HELLENIC SHIPPING NEWS
 Things are beginning to brighten up in the beleaguered dry bulk market, which is riding on a multi-week rally to find itself around the “psychological” level of 700 points (Baltic Dry Index), which is a six-month high. However, analysts and shipbrokers alike are keeping both feet on the ground, as things are still more than fragile and could turn around in a heartbeat. According to a recent report from shipbroker Intermodal, “the commodities markets have been moving like crazy during this time, with the bear rally having pushed prices for iron ore to more than 15-month highs (the recent peak reached $70 a tonne, marking it for now the best price performing commodity for 2016”.
Intermodal noted that “all this market boost seems to be the child born from the combination of several market effects mainly resonating from within China. The increased availability of credit from the huge amount of cash injected by Chinese policymakers into its banking system earlier this year, the restocking undertaken ahead of the summer construction period, tighter supplies recently noted after a string of closures last year, supply disruptions in Australia and Brazil and finally a more bullish appetite for steel in China following an improvement in steel-intensive construction and infrastructure projects and a better than expected GDP figure for the first quarter of 2016. This has been enough to feed speculation from China and drive a more then 80% increase in price from its low back in December of 2015”
According to George Lazaridis, Head of Market Research & Asset Valuations with Intermodal, “all this has in turn has fed a stimulus to the iron ore futures contract and has been thoroughly noted in the advancements in seaborne trade shipments. Yet as good as all this may sound, alarm bells have been ringing. The recent rally is still being held on a very shaky foundation, while recent public comments from most of the major iron ore producers have been mentioning the expectation of a significant inflow of cheaply sourced supplies which are due to come online this year. Further to this and with the price of iron ore having now reached this new peak, mines based within China (which had been driven out of market from the previous drop in prices) will be able to come online even partially, as such bringing a temporary halt in seaborne imports. Furthermore, it is important to also note that it is still too early to tell the long-term viability of the recent stimulus package brought on by the policymakers and how well it will be a steady support on the market and provide real support for a true market recovery”.
Lazaridis added that “nevertheless and after having mentioned all the cautions that needed to be addressed, the news are fairly positive. From the perspective of the shipping industry it is the boost in demand that plays the more significant role, with the recent rally in prices, although reflecting the market improvement in demand, leaving risks down the line if these prices were to prevail for too long. Cheaply sourced supplies could further boost demand while allowing to keep the competitive edge on supplies sourced from far locations such as Australia and Brazil. Therefore the focus is on the consumption boost from within China, which if it lasts and keeps on course, could be the sign of a true market recovery in sight”.
He concluded his analysis by noting that “taking away from the recent rise in demand the percentage that is due to the high seasonal restocking does make for a more moderate rise while it leaves a sense of an upcoming drop once the focus shifts from restocking to destocking. For the moment however, things look positive and given the Herculean efforts made on the side of ship owners to keep the supply of Capes capped, we might be set for an earlier recovery then what one would have thought of back in January. What is important is that we don’t lose our sight off the ball, and keep efforts to a max in order to bring about this change in markets sooner rather than later”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 22 April 16
U.S WEEKLY DOMESTIC COAL OUTPUT UP 8.2 PER CENT - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.1 million short tons (mm ...
Thursday, 21 April 16
PANAMAX: A VERY HEALTHY NORTH ATLANTIC FOR BOTH ROUNDS AND FRONTHAUL
Capesize
Correcting after last week's quadrupling.
This year's highest daily average of USD 8000 came on the back of substantial pro ...
Wednesday, 20 April 16
2017 IS EXPECTED TO BE A MUCH BETTER YEAR FOR THE SHIPPING INDUSTRY - INTERMODAL
Some months ago we noted that all projections anticipated 2016 to be a better year from a macroeconomic point of view when compared to 2015. As we ...
Tuesday, 19 April 16
STARS STILL SHINING? KEY IMPORTERS THROUGH THE TELESCOPE - CLARKSONS
As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
Monday, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
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- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
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