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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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Thursday, 03 December 15
PANAMAX BUSINESS REMAINED UNDER PRESSURE LAST WEEK
COALspot.com: Following the new record lows the Dry Bulk market witnessed the week prior, the BDI took a much needed breath during the past days.
...
Wednesday, 02 December 15
Q3' 16 FOB RICHARDS BAY COAL SWAP SLIGHTLY UP FOR THE THIRD STRAIGHT WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up month over month and fell week over week.
The Q1’ 2016 &nbs ...
Wednesday, 02 December 15
MARKET INSIGHT - VASSILIS LOGOTHETIS
Boom and bust cycles in commodity prices are not something rare, yet they have important implications both for the world economy in general and for ...
Tuesday, 01 December 15
FOB NEWCASTLE COAL SWAP UP THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.75 per ton (9.26%) month over month to US$ 36.75 per ton. The swap ...
Tuesday, 01 December 15
TANKERS VERSUS BULKERS - JUST PLAYING CATCH UP? - CLARKSONS
It’s now more than a year since the tanker market took off. In mid-2014 tanker earnings picked up and since then have been in the $30-$40,000 ...
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- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Planning Commission, India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
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