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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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Tuesday, 05 January 16
4200 GAR COAL INDEX FALL TOWARD $27;SLIPPED 28.05% YEAR-TO-DATE
COALspot.com: Average 5000 GAR coal index has not moved in the past week, averaging $40.12 per ton on last Thursday, according to CS (i) Coal Index ...
Monday, 04 January 16
CFR SOUTH CHINA COAL SWAP REMAIN FLAT OVER CHRISTMAS & NEW YEAR HOLIDAYS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.68 (1.64%) per ton month over month.
A commodity swap is ...
Friday, 01 January 16
FOB INDONESIA COAL SWAP FOR Q1'16 DELIVERY CLOSED AT $36.75 PER TON
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month but flat week over week.
According to AsiaClear OTC coal swap' ...
Thursday, 31 December 15
COAL PRICES FELL ON WEAK DEMAND
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap decline month over month and slightly up week over week.
The Q1’ 2016 ...
Thursday, 31 December 15
2016 FOB NEWCASTLE COAL SWAP RALLY TO CLOSE AT $37.98/TON
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.48 per ton (4.05%) this past week compared to the sam ...
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- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
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