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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, 06 May 16
U.S. WEEKLY COAL PRODUCTION UP 9 PERCENT W/W; DOWN 35.3 PERCENT Y/Y - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million short to ...
Wednesday, 04 May 16
COAL IMPORTS: A VOLATILE MATTER OR STILL POWERING DOWN? - CLARKSONS
Chinese coal imports decreased significantly in 2014-15, and so far in 2016 the pace of decline appears to have slowed, with imports even recording ...
Wednesday, 04 May 16
IS THE DRY BULK MARKET OUT OF THE WOODS YET, OR NOT? - HELLENIC SHIPPING NEWS
Things are beginning to brighten up in the beleaguered dry bulk market, which is riding on a multi-week rally to find itself around the “psyc ...
Wednesday, 04 May 16
POWER - WEEK: REAL EXAMPLES AND CASE STUDIES
POWER WEEK
7 - 11 November 2016, PARKROYAL on Beach Road Hotel, Singapore
www.power-week.com
Overview
Designed for the global e ...
Tuesday, 03 May 16
HOW TO AVOID THE LATEST CARGO FRAUDS - BIMCO
BIMCO receives regular reports from members around the world about cargo fraud. This week alone we have had two reports of cargoes being fixed (or ...
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- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Planning Commission, India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
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