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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, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
Tuesday, 10 May 16
VOLATILITY? VARIATION NO ENIGMA TO SHIPPING..... - CLARKSONS
Along with cyclicality, the other characteristic of the shipping markets which receives frequent mention is volatility. This is so evident that the ...
Monday, 09 May 16
INDONESIAN CS COAL INDICES UP CONTINUES; POSITIVE DIRECTION
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.10 percent week over week to averaging $38.82 per ton on this past Wednesday, a ...
Monday, 09 May 16
DRY BULK SHIPPING TO WITNESS STEADY PROGRESS MOVING FORWARD ON THE BACK OF GROWING TRADE VOLUMES - BIMCO
In its latest short-term analysis of the shipping markets, BIMCO reiterated its optimism on the prospects of the dry bulk market moving forward. Ac ...
Monday, 09 May 16
BALTIC DRY INDEX ENDS WEEK ON A NEGATIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
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- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
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