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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, 04 July 16
BDI ROSE ON STRONGER DEMAND ACROSS ALL VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 11.16 percent from la ...
Friday, 01 July 16
BREXIT SET TO HURT SHIPPING IN THE LONG-TERM AS IT WILL TAKE ITS TOLL IN THE GLOBAL ECONOMY'S GROWTH - HELLENIC SHIPPING
Setting aside the short-term negative impact of the Brexit, in terms of stock market and currency volatility, it’s more than evident that the ...
Friday, 01 July 16
U.S'S COAL EXPORTS HAVE DECLINED FOR TWELVE QUARTERS IN A ROW - EIA
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.7 million short t ...
Thursday, 30 June 16
CAPE - THIS WEEK'S FREIGHT AND ACTIVITY LEVEL HAVE KEPT STABLE - FEARNLEYS
Cape
This week’s freight and activity level have kept stable. It is support at the present levels and despite a volatile market the freight ...
Thursday, 30 June 16
OIL PRODUCT TANKERS EARNINGS DECLINE AS STOCKBUILDING SLOWS DOWN - BIMCO
BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is stil ...
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- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Planning Commission, India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- The University of Queensland
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
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