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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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Sunday, 24 January 16
PANAMAX MARKET WEAKENS ACROSS THE BOARD
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser, fell ninetee ...
Friday, 22 January 16
WEEKLY US COAL PRODUCTION ESTIMATES ALMOST FLAT
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.3 million shor ...
Friday, 22 January 16
COAL PRICES TO REMAIN UNDER PRESSURE THIS YEAR
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month and week over week. The falling trend of prices for coal was continuing ...
Friday, 22 January 16
Q3' 16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 40.80; DECLINE $ 2.80 M-O-M
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and decline week over week.
The Q1’ 2016 FOB Richards B ...
Wednesday, 20 January 16
Q3'16 FOB NEWCASTLE COAL SWAP CLOSED $ 2.40 LESSER THAN Q1'16 CLOSING PRICE OF $ 38.10
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $0.77 per ton (2.06%) this past week compared to the sam ...
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- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
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