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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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Monday, 18 January 16
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 42.50 PER TON; UP 1% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.43 (1.02%) per ton month over month.
A commodity swap is ...
Friday, 15 January 16
FOB INDONESIA COAL SWAPS FIRM SLIGHTLY LAST WEEK
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month over month and week over week.
According to AsiaClear OTC coal swap's r ...
Friday, 15 January 16
SHIPPING: 2016 STARTED WITH MISERY ACROSS THE BOARD FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As one would have expected, the dry bulk market starter the new year where it left off in 2015, plunging to never seen before depths, as the market ...
Friday, 15 January 16
U.S. WEEKLY COAL PRODUCTION ROSE ACROSS ALL BASINS: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 14 January 16
FOB RICHARDS BAY COAL SWAP FOR Q3 DELIVERY CLOSED $5.90 LOWER THAN Q1 PRICE
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coal ...
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- Xindia Steels Limited - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Australian Coal Association
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- MS Steel International - UAE
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
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