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