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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, 13 January 16
U.S. COAL PRODUCTION DECLINED BY 109 MMST IN 2015; COAL EXPORTS DECREASED 21% Y-O-Y
COALspot.com: U.S. coal production declined by 109 million short tons (MMst) (11%) in 2015, the largest decline ever recorded, says EIA.
The 2 ...
Wednesday, 13 January 16
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Going through the second week of 2016 we could easily argue that at this point there are no visible signs of an imminent recovery in the Dry Bulk m ...
Wednesday, 13 January 16
IRON ORE IMPASSE - A FAILED CLAIM FOR CONVERSION - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the recent case of the “Bao Yue”, the English High Court found that the bill of lading holder was liable t ...
Tuesday, 12 January 16
5700 GAR COAL FOR DELIVERY WITHIN Q1 FELL 0.91% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin moved South direction week over week to averaging $39.96 per ton on last Friday, acc ...
Monday, 11 January 16
PORT OF NEWCASTLE SHIPPED 20% MORE COAL IN DECEMBER 2015; AVERAGE SELLING PRICE DECLINE 3.43%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.129 billio ...
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Showing 2611 to 2615 news of total 6871 |
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- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
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