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