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