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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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Friday, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
Thursday, 19 May 16
AUSTRALIAN IRON ORE CARGOES PUSHED UP THE FREIGHT RATES FOR CAPE THIS WEEK - FEARNLEYS
Cape
It has been a big jump in the freight rates for Cape size this week, says Fearnleys in its latest weekly report. All of the Australian iron ...
Thursday, 19 May 16
DISPUTE OVER VAT ON COAL DRAGS ON, CAUSING DOUBLE-BLOW TO MINERS - JP
The dispute over the value-added tax ( VAT ) mechanism between coal miners operating under third-generation contracts and the Finance Ministry&rsqu ...
Wednesday, 18 May 16
DRY BULK OUTLOOK REMAINS GLOOMY SAYS DANISH SHIP FINANCE, AS SHIPPING NEEDS TO RETHINK BUSINESS MODEL - HELLENIC SHIPPING
Our Shipping Market Review – May 2016 is devoted to the fourth industrial revolution. To understand the truly disruptive nature of the fourth ...
Wednesday, 18 May 16
LONG TERM FUNDAMENTALS ARE SLOWLY IMPROVING FOR THE DRY BULK MARKET - INTERMODAL
As we are approaching the end of the first half of the year, there is a number of market participants over at the dry bulk sector that have started ...
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Showing 2426 to 2430 news of total 6871 |
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- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Planning Commission, India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
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