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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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- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Sical Logistics Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Goldman Sachs - Singapore
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- CNBM International Corporation - China
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