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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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Tuesday, 08 December 15
HOW TO MITIGATE LEGAL RISKS WHEN PURCHASING BUNKERS - LESSONS LEARNED FROM THE OW BUNKER COLLAPSE - THE SWEDISH CLUB
KNOWLEDGE TO ELEVATE
About a year has passed since OW Bunker & Trading A/S filed for bankruptcy. The collapse shows that there are signifi ...
Monday, 07 December 15
5000 GAR CS (I) COAL INDEX REMAIN THE SAME OVER LAST WEEK
COALspot.com: The 5000 GAR CS (i) coal index remain the same over last week.
According to the CS (i) coal (system generated) index, the CS 50 ...
Monday, 07 December 15
COAL DEMAND IN 2016 FAILS TO SUPPORT PRICES; CFR SOUTH CHINA COAL SWAPS SEEN AT $US 42 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 1.70 (3.88%) per ton month over month.
A commodity swap ...
Sunday, 06 December 15
THE BDI DECLINED BY 3.09 PERCENT TO 563 POINTS ON 4 DECEMBER
COALspot.com: The BDI declined by 3.09 percent to 563 points on 4 December 2015.
The Cape index was also declined by 10.01 percent to 890 poin ...
Sunday, 06 December 15
DRY BULK MARKET ON REVERSE MODE, SET TO BREAK NEW ALL-TIME LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been the negative “star” of the shipping industry for quite some time. In fact if it wasn’t for the boomi ...
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- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Marubeni Corporation - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Planning Commission, India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Bhatia International Limited - India
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