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