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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, 23 December 15
FOB NEWCASTLE COAL SWAP CLOSES FIRM
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery up $0.45 per ton (1.22%) month over month to US$ 37.20 per ton. The swap wa ...
Tuesday, 22 December 15
3800 GAR INDEX CLOSED AT US$ 22.03 PER TON; DOWN 0.15% W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.03 per ton (-0.07 %) week over week.
According to the CS (i) coal (system generated ...
Monday, 21 December 15
Q3' 2016 CFR SOUTH CHINA COAL SWAP CLOSED SLIGHTLY LOWER COMPARE TO Q1'16 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery up US$ 0.20 (0.48%) per ton month over month.
A commodity swap is a ...
Sunday, 20 December 15
THE FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI facing all time low's this week. The bulk dry index closed at 477 points on 18 December 2015.
The cape index was als ...
Friday, 18 December 15
WHEN IS A MASTER ENTITLED TO REFUSE DAMAGED CARGO? A REMINDER - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
A master’s authority to clause bills of lading issued by or on his behalf can sometimes become the cause of disagreeme ...
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- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- The University of Queensland
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
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