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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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Thursday, 28 April 16
PRICES OF POWER-STATION COAL IN INDONESIA IS INCREASING
COALspot.com: Inquiries for Indonesian 4200 - 4400 Kcal/kg GAR thermal coal cargoes from India suddenly increase recent days.
A Jakarta-based ...
Thursday, 28 April 16
KOMIPO TO IMPORT 710K MT OF BITUMINOUS COAL DURING JULY - SEPTEMBER 2016
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 710,000 Metric Tons of Bituminous Coal for its B ...
Thursday, 28 April 16
CAPE: BIT MORE OPTIMISM IN THE MARKET; SUPRAMAX: FORWARD CURVE IS FALLING - FEARNLEYS
Cape
A bit of a slower week. Activity level has dropped, though the rates do still remain firm, says Fearnleys in its latest weekly report.
...
Wednesday, 27 April 16
THE OCEAN SHIPPING EXPERIENCED DRAMATIC VOLATILITY IN THE BEGINNING OF 2016 - PANOS TSILINGIRIS
Shipping’s new (ab)normal
The global economy and ocean shipping experienced dramatic volatility in the beginning of 2016 and as the glob ...
Wednesday, 27 April 16
INDONESIAN COAL MINER KIDECO REPORTED NET PROFIT OF US$138.1 MILLION IN 2015
COALspot.com: Kideco Jaya Agung, one of the Indonesia's leading coal miners has reported net profit of US$138.1 million on revenue of US$1.65 b ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
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