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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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Wednesday, 25 November 15
BIG CHINESE COPPER PROCESSORS DEFEND MARGINS THROUGH R&D, SAYS FITCH
Large Chinese copper processors are focusing on higher value-added products and investing in R&D to enhance their technical know-how to maintai ...
Wednesday, 25 November 15
BIMCO LAUNCHES ANTI-CORRUPTION CLAUSE FOR SHIPPING CONTRACTS WORLDWIDE
COALspot.com: BIMCO, is the world’s largest international shipping association, with 2,200 members in around 130 countries, has now launched ...
Wednesday, 25 November 15
TANKER MARKET INSIGHT - GEORGE VASTARDIS
We have already noticed obvious signs of activity mainly West of Suez, which are currently driving the clean MR market to higher levels. Over the p ...
Tuesday, 24 November 15
COAL SUPPLY PRESSURE PUTS INDONESIAN HBA IN FREE FALL
The coal industry is slowly recognizing that, the current coal price level is not a decrease in price, but a change in pricing to corresp ...
Tuesday, 24 November 15
COAL PRICES SET TO REMAIN UNDER PRESSURE UNTIL 2016 DUE TO OVER SUPPLY GLUT; H1 '16 COAL SWAPS DOWN 13% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $5 per ton (12.05%) month over month to US$ 36.50 per ton. The s ...
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- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
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- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
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- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
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- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- The University of Queensland
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- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
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- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
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- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
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- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Anglo American - United Kingdom
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
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- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
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