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Thursday, 05 May 16
DRY BULK MARKET ON REVERSE MODE, AS HOLIDAYS AROUND THE WORLD HURT DEMAND - HELLENIC SHIPPING NEWS
 The dry bulk market’s recent rally has been put on a temporary hold, as various holidays around the world have put a stop in it. In its latest weekly report, shipbroker Fearnleys said that as a result of various holidays around the world, “the last week’s positive trend in the Cape market came to an end. West Australia rates are again sub USD 4 and time charter rates are approaching USD 5000 levels. Activity in the Atlantic is cooling off as well, and period activity is consequently scarce”.
In the Panamax market, Fearnleys said that ‘with bank holidays beginning week, Golden Week in Japan and upcoming holidays in Europe the mrkt has been very quiet this week. Rates continue to slide and the pressure for North Atlantic is no longer there. The recent week’s main driver; grains ex ECSA is coming off. We see fewer stems for May and what is left is being swallowed by the ballasters, most recently at USD 7k+190kGBB. We do not see any immediate signs for recovery either and believe this sliding tendency will continue short term. In the Eastern hemisphere we see the same tendency with rates coming off. Aussie rv being fixed in the high 4k for index type while the bigger kmax can fetch mid 5k. Short periods are being fixed at 5,750 while 1 year at 5k”, it noted.
Finally, “the Supra market in the East, as here in the Atlantic, is affected by the upcoming long weekend. Charterers in general have been trying to use the lack of action to draw the numbers down, but largely without success. The most lively market has still been the Continent which has continued to draw tonnage out of the Mediterranean. Also the Handy’s continue to see good numbers with East Med delivery for loading off the Continent back to the East Med at very healthy numbers considering this is a full round trip. On the period front, an Ultra has concluded short period off West Africa, with WW redelivery at upper USD 9000’s which can be considered healthy”, said Fearnleys.
NEWBUILDING ACTIVITY
Meanwhile, there was very little shipyard activity this week as well. According to Fearnleys, “two VLGCs ordered by Japanese compatriot Nissen Kaiun for construction at MHI. Although no price reported a VLGC is today estimated at low-mid 70s”.
Meanwhile, as Fearnleys noted “the spot activity in the VLGC market has slowed down quite a bit over the last few days, Golden Week in Japan as well as UK and Singaporean holidays on Monday are partly to blame for the sluggish freight market. The main reason, however, are the continued meagre spreads between FOB and CFR prices that at the time of writing only allow for spot rates well below recent (low) market fixtures.
We have counted less than a handful sub-fixtures in the VLGC market since our latest weekly, and the rates have been rather stable returning some USD 20/21,000 per day on modern vessels. The Baltic VLGC index has been quite uninspiring lately, just when the market thought the index was on its way up to more sustainable numbers, the curve turned down and the latest posting is similar to the index level 2 weeks ago. The spot fleet balance does not look bad ahead, but it is not likely that the owners will get the upper hand over the next few weeks unless FOB prices drop and/or CFR prices go up. At the moment owners are willing to repeat the numbers they have been quoting lately, but unfortunately the charterers can only consider discounts to those numbers for the time being.
The panellists for the Baltic Forward Assessment carry on painting a very bleak freight picture over the summer, the VLGC owners probably characterize the forecast as an insult and an annoyance”, said Fearnleys.
Finally, in the demolition market, shipbroker Athenian Shipbrokers said that “with the monsoon season fast approaching and governmental budgets looming, both Bangladeshi and Pakistani buyers entered the market with renewed appetite to buy, concentrating on promptly available units. Prices on offer consequently rose on both markets with several deals being reported. Indian buyers at the shorefront appeared sceptical following a drop in local steel prices; nonetheless several deals were also reported as concluded at levels that were not in line with the sentiment at shore. In the Far East, prices continued to improve, however the gap between what Chinese breakers can offer and the sub-continent remained significant”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 11 July 16
THE MAIN SEA FREIGHT INDEX, BDI ROSE FURTHER ON 8 JULY DUE TO STRONG DEMAND FOR PANAMAX SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.84 percent from las ...
Monday, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Planning Commission, India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
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