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Sunday, 06 December 15
DRY BULK MARKET ON REVERSE MODE, SET TO BREAK NEW ALL-TIME LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market has been the negative “star” of the shipping industry for quite some time. In fact if it wasn’t for the booming tanker segment and the rebounding LNG/LPG niches, then shipping could be very well be deemed as a recession-hit one. Yesterday, the dry bulk market’s benchmark, the Baltic Dry Index (BDI) retreated by 16 points to reach just 574.
Capesizes were the leaders of the fall, by losing 70 points to 931 points. All other sub markets were also down, except for the Handysize markets which were unchanged on the day.
In its latest weekly report, shipbroker Fearnleys noted on the Capesize market, that “the Trans Atlantic market has been pushed up till earlier this week. For vessels opened in North Atlantic, hire went up to 8500-9000 USD level for one TCT in Atlantic. With a bit fewer ballasters to Brazil, the Tubarao/Qingdao freight rate was also going up to high 9 USD. 20,000 USD/day was reported for vessel open in Atlantic for one trip via Narvik to PMO/Japan range. However, the Pacific side was not as positive as the Atlantic. Though rates went up to very high 4 USD for west Australia to Qingdao, and tc hire went up to 8000-9000 USD/day earlier, rates for west Australia to Qingdao dropped again sharply and quickly to low 4 USD”.
Similarly, “the Panamax market remained uninspired with little light for owners with open vessels in both basins.Lack of new fresh orders either coal, iron ore, bauxite, fertilizers or grain giving the charterers the upper hand to pick and choose out of open tonnage. North continent was the only exception where early prmpt ships found employment instead of ballasting.Atl paying typically from USD 2500/3000 p/d. Fronthaul from ECSA to Feast paying in the low 6 + 180.000 bb now.In the pacific we see falling activity and rates arnd 3000 USD.Period activity very limited with index heading against a new all time low. 4/8 months concluded at tic over 5000 daily. 1 year deals would probably pay arnd USD 5500 if concluded at all”, Fearnleys noted.
In the Handy segment, the shipbroker said that “Supramaxes seem to have found a bottom. This is the case in both basins and although there is no effective period market, vessels are demanding slightly better numbers and getting same. The question is will it last and with the holiday season approaching we may see rates start to come off again as owners seek cover. Forward numbers are still under pressure, and although there is still some contango, there is not much freight optimism though next year”, it concluded.
Meanwhile, in the crude segment, Fearnleys said that “the VLCC market saw a steady strong demand as the charterers continue to pour cargoes into the market. Consequently the supply side rapidly became slimmer and rates firmed up. During the last two days higher levels have been recorded for nearly every new fixture reported. With some 90 fixtures concluded for December there are more to be done and owners will make the most out of the present strong momentum. The firm Meg market have reflected on Wafr, hence rates have also increased for the Wafr/East trade. The Nsea and Caribs have remained stable – in Caribs mainly due to problems with stem confirmation ex Venezuela.
The Suezmax rates have balanced at the W85 mark for WAFR/UKCM voyages during the past week. Although with a steady flow of cargoes, rates have dropped 2,5-5 ws-points due to little or no activity in other areas. In the Caribs, there are still problems in regards to stem-confirmation and it results in fewer cargoes. The activity in Bsea and Nsea has also stalled, leaving quite a few ships on the water ballasting towards Wafr. However, the 3rd decade ex Wafr is far from done, and with a climbing VLCC market, we might see the rates bounce back. The Nsea and Baltic continued in a sideways trend last week with rates not really going anywhere. Going forward into 2nd decade of December expectations are hoovering for sentiment to firm up a bit as more charterers will seek to employ ice-tonnage in the Baltic. In the Med/Bsea the market has been stable around w115/w117,5 the last week. Tonnage list have been looking rather balanced, and cargo activity stable. Now on the other hand, we have seen several charterers with fuel-cargoes going east, in addition to a busy Bsea program. This increasing activity as we are closing in on Xmas could push rates above w120”, the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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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 ...
Tuesday, 26 January 16
OUTLOOK FOR GLOBAL OIL MARKETS - OPEC SECRETARY GENERAL
Opening address by HE Abdalla S. El-Badri, OPEC Secretary General, at the Chatham House Conference: Middle East and North Africa Energy 2016, Theme ...
Monday, 25 January 16
5700 GAR COAL INDEX CLOSED $ 50.08 PER TON, $0.20 LOWER FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 1.35 percent week over week to averaging $39.39 per ton on this past Friday, ...
Monday, 25 January 16
SHOULD A DEFAULTING PARTY BE ENTITLED TO AN INNOCENT PARTY'S SAVING, FOLLOWING THEIR BREACH OF CONTRACT? - THE NEW FLAMENCO REVISITED
KNOWLEDGE TO ELEVATE
This case was addressed by the club in our of January 2015, when the High Court decision became available. The background ...
Monday, 25 January 16
DRY BULK SHIPPING: A MISERABLE START TO A NEW YEAR, WHERE THE MARKET STRUGGLES TO GROW AT ALL - BIMCO
The global production of steel dropped in 2015 compared to 2014, to a larger extent outside China, as China exported its surplus of steel to destin ...
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- Deloitte Consulting - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Planning Commission, India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- The University of Queensland
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
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