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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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Sunday, 13 December 15
THE LOW VESSEL DEMANDS PUSHED DOWN BALTIC DRY INDEX FURTHER DOWN
COALspot.com: The low vessel demand across nearly all vessel sizes pushed the Baltic Exchange’s main sea freight index further down in this F ...
Sunday, 13 December 15
DRY BULK RATES KEEP ON FALLING AS LOW VESSEL DEMAND IS STILL THE NORM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market nowadays is in an endless downward spiral, which as it turns out is unable to recover, at least as long as the current balance ...
Friday, 11 December 15
US COAL PRODUCTION UP 7.7% IN WEEK ENDED DECEMBER 5, 2015
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 10 December 15
LIENING CARGO - WHICH LIEN CLAUSE APPLIES TO THE BILL OF LADING? : WIKBORG REIN | HELLENIC SHIPPING NEWS
KNOWLEDGE TO ELEVATE
In a dry bulk market where a charterer is not paying freight or hire, its counterparty is often left to consider whether ...
Thursday, 10 December 15
CANADIAN MINER TECK ANNOUNCES LNG HAUL TRUCK PILOT PROJECT
Teck Resources Limited is piloting the use of liquefied natural gas (LNG) as a fuel source in six haul trucks at its Fording River steelmakin ...
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- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- White Energy Company Limited
- Australian Coal Association
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
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