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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, 30 December 15
FINAL DEALS OF THE YEAR TAKING PLACE, AS SHIP OWNERS PREPARE FOR 2016 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Holidays’ investment lull has taken a grip over the newbuilding and S&P market for second hand vessels, as shipbrokers are reporting ...
Tuesday, 29 December 15
CFR SOUTH CHINA COAL SWAPS ROSE MONTH OVER MONTH
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 ...
Monday, 28 December 15
Q2' 15 U.S. STEAM COAL EXPORTS TOTALED 7.0 MMST; DOWN 16.9% FROM Q1 2015 - EIA
COALspot.com: U.S. coal production during second quarter 2015 totaled 211.1 million short tons.
According to EIA’s preliminary quarterly ...
Monday, 28 December 15
NOVEMBER NEWCASTLE COAL EXPORTS DECLINED 11.87%; THE AVERAGE PRICE OF COAL EXPORTS ROSE 1.37%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.120 billio ...
Saturday, 26 December 15
FOB INDONESIA COAL SWAPS KEEP DROPPING
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month and week over week.
According to AsiaClear OTC coal swap's rep ...
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- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
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