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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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Wednesday, 20 January 16
SHIPPING MARKET INSIGHT - NASOS SOULAKIS
If you believe in the “January effect”, the theory according to which the beginning of a new year has a positive effect on financial in ...
Tuesday, 19 January 16
HAPPY NEW YEAR, COAL PRODUCERS! OR MAYBE NOT - ANDY ROBERTS
To coal producers, 2015 must have seemed far longer than 365 days. From their perspective, as bad as markets were at the beginning of the year, and ...
Tuesday, 19 January 16
COALTRANS ASIA IS RETURNING TO BALI
22nd Coaltrans Asia
Coaltrans Asia is returning to Bali to bring together over 1000 industry decision makers and thought leaders for three day ...
Monday, 18 January 16
INDONESIAN 5700 GAR COAL INDEX ROSE 0.60% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline slightly week over week to averaging $39.93 per ton on this past Friday, acc ...
Monday, 18 January 16
BALTIC DRY SHIPPING INDEX DROPS TO 373 POINTS; DECLINE 13% WEEK OVER WEEK
COALspot.com: The freight market dropped this week as the BDI declined further 13 percent to 373 points week over week. The Cape index ...
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- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Planning Commission, India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
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