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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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Tuesday, 17 May 16
INDONESIAN COAL PRICE REFERENCE DECLINE AGAIN
COALspot.com: The Indonesia Coal Benchmark Price declined in May 2016.
The Director General of Mineral and Coal of Indonesia, the regulator of ...
Tuesday, 17 May 16
CHINA THERMAL-POWER OVERSUPPLY TO WORSEN - FITCH
COALspot.com: The overcapacity in thermal-power generation in China is likely to worsen in 2016 to 2017, Fitch Ratings says in a new report.
F ...
Tuesday, 17 May 16
ON YOUR MARKS: TRACKING CHINESE TRADE - CLARKSONS
One of the major drivers behind the challenges currently facing many of the shipping markets has been slower demand growth. World seaborne trade gr ...
Monday, 16 May 16
INDONESIAN WEEKLY COAL INDICES AT POSITIVE LEVELS - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.31 percent week over week to averaging $38.94 per ton this past week, shows CS ...
Monday, 16 May 16
OPEC SEES RIVAL OIL PRODUCTION DECLINING
Crude Oil Price Movements
The OPEC Reference Basket averaged $37.86/b in April, a gain of $3.21 or 9.3%. This was 40% higher than the lows reache ...
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- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
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