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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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Friday, 18 December 15
CHINA GROWTH SHOCK TO HIT ENERGY, SHIPPING, STEEL MOST - FITCH
Energy, shipping and steel would be the hardest-hit sectors in Asia-Pacific (APAC) in the event of a sharp slowdown in Chinese growth, says Fitch R ...
Friday, 18 December 15
WEEKLY U.S. COAL PRODUCTION REMAINS FLAT ACROSS ALL BASINS
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 17 December 15
THE LOW DEMAND AND EXCESS COAL OUTPUT, KEEP THE FOB INDONESIA COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q1 2016 rose month on month and decline slightly week over week. For the week ended December 11, 20 ...
Thursday, 17 December 15
GLADSTONE PORT COAL RECORD LOOMING, EXPORTS UP 12% - GLADSTONE OBSERVER
COAL exports from Gladstone's port have taken a leap, with more than seven million tonnes leaving the wharves in November.
That increase i ...
Wednesday, 16 December 15
FOB RICHARDS BAY COAL SWAP SLUMP 5.5% FROM LAST MONTH
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
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- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
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