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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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Wednesday, 29 June 16
THE DRY BULK INDICES, OPPOSITE TO MOST GLOBAL MARKET INDICES, ROSE END OF LAST WEEK
Last week closed off with a massive shockwave for markets across the world following the British referendum, the result of which will mark the begi ...
Tuesday, 28 June 16
WEEKLY CS COAL INDICES ROSE ON RENEWED DEMAND FROM CHINA
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.66 percent week over week to averaging $39.65 per ton this past week, sh ...
Tuesday, 28 June 16
CHINA'S IRON ORE IMPORTS: HOW MUCH MORE WORK FOR CAPES? - CLARKSONS
Chinese iron ore imports account for around two thirds of global seaborne iron ore shipments, making it the key driver of Capesize employment. Whil ...
Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard ...
Monday, 27 June 16
BREXIT RESULT COULD SEE UK FACING AN EXODUS OF MARITIME TALENT - FASTSTREAM
The UK’s decision to leave the EU has the potential to drive many of its maritime employees away, according to the results of a survey issued ...
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- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
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