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