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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, 22 April 16
U.S WEEKLY DOMESTIC COAL OUTPUT UP 8.2 PER CENT - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.1 million short tons (mm ...
Thursday, 21 April 16
PANAMAX: A VERY HEALTHY NORTH ATLANTIC FOR BOTH ROUNDS AND FRONTHAUL
Capesize
Correcting after last week's quadrupling.
This year's highest daily average of USD 8000 came on the back of substantial pro ...
Wednesday, 20 April 16
2017 IS EXPECTED TO BE A MUCH BETTER YEAR FOR THE SHIPPING INDUSTRY - INTERMODAL
Some months ago we noted that all projections anticipated 2016 to be a better year from a macroeconomic point of view when compared to 2015. As we ...
Tuesday, 19 April 16
STARS STILL SHINING? KEY IMPORTERS THROUGH THE TELESCOPE - CLARKSONS
As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
Monday, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
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- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- The University of Queensland
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
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