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Friday, 08 January 16
DRY BULK MARKET'S CRISIS DEEPENS AS RATES ARE DROPPING TO NEW RECORD LOWS BY THE DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Just when you would think that the dry bulk market is reaching its bottom, even as it has long surpassed all-time lows, each day that passes by at the start of 2016, brings about more bad news. Yesterday, the industry’s benchmark, the Baltic Dry Index (BDI) reached new lows, plunging by 22 points to a mere 445 points. As it turns out, things will most likely turn worse, before they get better.
In its latest weekly report, commenting on the Capesize market, shipbroker Fearnley’s noted that “as expected rates have been under pressure the first week of the new year. West Australia / China rates are up from sub 3 pmt levels during Christmas to approx USD 3,30 with a slightly further improvement expected. Fronthaul cargoes remain scarce. Some period activity with short period fixtures beeing concluded around the USD 4,500 a day for 175,000 dwts”, said the shipbroker.
Meanwhile, in the Panamax market, Fearnleys said that “activity in the Atlantic seems to increase a bit after X-mas and new year, especially grain from USG and ECSA to far east absorbing tonnage. Transatlantic roundvoyages paying arnd 4000 USD depending delivery, duration and redelivery. Cold weather and more ice can make Baltic and North Atlantic tight, if iceclassed tonnage needed. Sofar rates steady. Rates moving up for fronthaul and 10.000 + 150 bb reported fixed from USG to feast. ECSA to feast paying mid 7 k + 220 k bb.
Grain from ECSA to continent paying mid 6k for a good Kamsarmax. Nopac rounds paying 4000 USD + 100 k bb. Pacific rounds hovering around low/mid USD 3000. Period market slow but
we believe modern tonnage get arnd USD 5500 for 1 year”, the shipbroker noted.
Finally, in the Handy markets, Fearnleys said that “after a quiet holiday period, the market has slowly awakened from its slumber. Rates are not running away but the market looks like it is finding a bottom. Averages for a Surpa are now around mid USD 4000’s and only marginally down from pre Christmas levels. 2016 has started with a couple of period fixtures reported at low USD 6000’s for Ultramaxes. Thus by default Supras will only be worth something in the USD 5’s for a 12 month deal”, it concluded.
In a note this week, BIMCO said that in 2016, it expects the supply-side to grow by around 2% (2.6% in 2015E) – and that this will be helped by a new record level of scrapping. On the demand-side, growth is forecast to remain level. Challenging market conditions in China will be likely to affect the level of risk.
According to the organization’s review of 2015, “the dry bulk market experienced a troublesome 2015 as the ongoing decline in Chinese coal imports was not countered by any significant upswing elsewhere. Whereas iron ore imports were on a par with 2014, steel export from China reached a new high, benefitting mid-sized ships. For 2016, much depends on what Chinese steel mills will do. Will they continue production above domestic consumption – or substitute domestically mined ore with imported ore? The jury is still out.
At the end of November, the Baltic Dry Index hit 498, a new all-time low. For most of the year, the majority of ships have traded below OPEX levels, resulting in financial losses for many companies. The horrific first half of 2015 brought around a new half-year record for scrapping. Improvements in the freight market during Q3 regrettably cooled down demolition market activities. Nevertheless, fleet growth recorded a twelve-year low.
Meanwhile, in the newbuilding market, Fearnleys noted that “only six days into the new year, most of the contracts in the below table were reported in the latter part of December. On the tanker side aframaxes were in focus as Tsuneishi secured an order for 8 vessels of which four went to their “in-house” owners Kambara Kisen. Ship Finance went to Daehan (Korea) for two option two LR2 type product carriers to be delivered in the second part of 2017. The contract was done in combination with a 7+2 years charter to US based Energy Company. At the doorstep of a new year we expect yards to compete strongly for new contractcs in a market with diminishing demand and prices under continous pressure”, the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 28 January 16
WHAT ARE THE PROSPECTS FOR COAL IN LIGHT OF THE PARIS CLIMATE AGREEMENT? - GERMAN COAL IMPORTERS ASSOCIATION
This depends – says the VDKi – to a very great extent on who you want to believe more, the United Nations or the International Energy A ...
Thursday, 28 January 16
RICHARDS BAY COAL SWAPS FOR Q1,Q2 AND Q3 DELIVERIES FIRM THIS PAST WEEK
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap rose month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coa ...
Wednesday, 27 January 16
API 5 FOB NEWCASTLE COAL SWAPS CLOSE MIXED
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.17 per ton (3.13%) this past week compared to the sam ...
Wednesday, 27 January 16
CHINA'S STALLING ECONOMY HAS HAD A GREAT EFFECT ON VARIOUS COMMODITIES; DECREASED DEMAND DRIVING COMMODITY PRICES LOWER AND LOWER - LINOS ALEXANDROS KOGEVINAS
Having gone through the first few weeks of 2016, it’s starting to look like another challenging year is ahead of us. Hopes for a recovery in ...
Wednesday, 27 January 16
WORLD HARD COAL PRODUCTION AND CONSUMPTION DECLINE IN 2015 FOR THE FIRST TIME IN OVER A DECADE - VDKI
COALspot.com: Seaborne hard coal trade and the changes in this area were decisively affected by China and India - VDKi.
China bears the g ...
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- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Planning Commission, India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Minerals Council of Australia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- VISA Power Limited - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
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