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Sunday, 13 December 15
DRY BULK RATES KEEP ON FALLING AS LOW VESSEL DEMAND IS STILL THE NORM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market nowadays is in an endless downward spiral, which as it turns out is unable to recover, at least as long as the current balance of demand/supply is maintained. Yesterday, the industry’s benchmark, the Baltic Dry Index (BDI) was down yet again, losing 12 points or 2,2% to 534 points. The Capesize index fell 33 points, or 3.85 percent, to 824 points as average daily earnings for Capesize vessels fell $305 to $7,181. The Panamax Index, dropped four points, or 0.97 percent, to 408 points. Average daily earnings for Panamaxes fell $37 to $3,258. Finally, among smaller vessels, the Handysize index dropped one point to 285 points, and the Supramax index fell five points to 455 points.
Commenting on the Capesize market, in its latest weekly report, shipbroker Fearnley’s noted that “there is a steady supply of cargoes out of West Australia but despite of this, rates are getting softer. Present level is just above usd 4 pmt. Fixing activity out of Brazil is getting less, with more talks than real action. The level remains steady on this trade and the big question is when Vale will be done for this year. Atlantic in general is well balanced, with a time charter level for a transatlantic round close to USD 9,000 daily”.
On the Panamax market, Fearnley’s noted that “the segment is in a steady decline with reduced activity across the board. It has been an extremely quiet week for the Panamaxes in both hemispheres and rates keep on dropping to all time low levels. Transatlantaic business is scarce with most rounds bss APS only in the 6000-7000 range with no BB. Voyage levels are under pressure, and USG fronthaul under 22 for spot and < 19 forward. ECSA business not a safe heaven for ballasters, with APS levels in the 6 + 150 GBB range. Far East is in the dark doldrums with levels APS 3 + 30 for Indo ronds and 4 + 125 for NOPAC. The forward curve is flat and in the mid 5’s for Cal -16, and owners are willing to fix at even less for about 1 year”.
Finally, on the Handy markets, the shipbroker said that it was another lackluster week for the segment. “The average rates keep falling to the tune of abt USD 100 per week. The period market remains thin, but there are some Ultramax owners willing to cover in the USD 6000’s level for abt a year. There is some anticipation relating to the lifting of some export taxes in Argentina, but it is uncertain how big an effect this will have on the market. There have been some COA’s concluded in the last week and owners are not asking for premiums going through 2016, indicating a definite lack of confidence for the upcoming year”, Fearnley’s concluded.
It’s worth noting that among the factors contributing to the fall of dry bulk freight rates is the fact that congestion at most Chinese ports has eased further over the past week due to a general improvement of the weather. Dense fog, strong winds, heavy rain and snow made several China ports close from time to time since late November. In a report, Platts said that “Shanghai, Bayuquan, Qingdao had cleared their backlog of ships, and waiting time for a Capesize vessel to berth was one to three days compared to two to five days earlier. Delays at Jingtang fell by one day, with Capesize vessels currently waiting five days. The port closed Wednesday afternoon at 1400 hours China time (0600 GMT) due to dense fog. But Caofeidian and Tianjin ports were still seeing Capesize vessels waiting ten days for a berth, with both ports closed intermittently over the past week due to dense fog. For Caofeidian, this represented an increase of five days from a week ago. Tonnage supply has risen over the past week, sources said, with owners eagerly offering their vessels in the Pacific region”, it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 18 December 15
WHEN IS A MASTER ENTITLED TO REFUSE DAMAGED CARGO? A REMINDER - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
A master’s authority to clause bills of lading issued by or on his behalf can sometimes become the cause of disagreeme ...
Friday, 18 December 15
CHINA GROWTH SHOCK TO HIT ENERGY, SHIPPING, STEEL MOST - FITCH
Energy, shipping and steel would be the hardest-hit sectors in Asia-Pacific (APAC) in the event of a sharp slowdown in Chinese growth, says Fitch R ...
Friday, 18 December 15
WEEKLY U.S. COAL PRODUCTION REMAINS FLAT ACROSS ALL BASINS
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 17 December 15
THE LOW DEMAND AND EXCESS COAL OUTPUT, KEEP THE FOB INDONESIA COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q1 2016 rose month on month and decline slightly week over week. For the week ended December 11, 20 ...
Thursday, 17 December 15
GLADSTONE PORT COAL RECORD LOOMING, EXPORTS UP 12% - GLADSTONE OBSERVER
COAL exports from Gladstone's port have taken a leap, with more than seven million tonnes leaving the wharves in November.
That increase i ...
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- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- The University of Queensland
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
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