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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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- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- The University of Queensland
- Planning Commission, India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Australian Coal Association
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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