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