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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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Monday, 30 November 15
ASSOCARBONI LOOKS AT COAL FROM A DIFFERENT ANGLE
ASSOCARBONI is in favour of an international mechanism to provide financial support to countries building high efficiency low emission coal plants. ...
Monday, 30 November 15
CS 5000 GAR COAL INDEX FIRM D-O-D; WEAK W-O-W
COALspot.com: The 5000 GAR CS (i) coal index up slightly day over day.
According to the system generated index, the CS 50 (5000 GAR coal) was ...
Monday, 30 November 15
CFR SOUTH CHINA COAL SWAPS REMAINED UNCHANGED FROM LAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.50 (9.78%) per ton month over month.
A commodity swap ...
Sunday, 29 November 15
CAPE INDEX SURGES 383 POINTS WEEK OVER WEEK, BOOSTS BALTIC DRY INDEX
COALspot.com: The Baltic Dry Index, a measure of shipping rates, fell to 498 points on 20 November and touched a 30-year low, but on 27 November th ...
Friday, 27 November 15
INDONESIA COAL SWAPS: WEEK ENDING 20 NOVEMBER CLOSED HIGHER COMPARED TO THE PREVIOUS WEEK
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and up on week over week. Coal prices seen slight improvements thi ...
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- CNBM International Corporation - China
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- ASAPP Information Group - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- The University of Queensland
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
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