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Thursday, 12 April 18
THE PERFECT STORM FOR THE BIG SHIPS - THE BALTIC BRIEFING
 Capesize
The perfect storm for the big ships: with holidays, force majeure in two ore exporting ports and bad weather undermining the market. A lack of significant activity from Brazil left the market one-sided, with owners/operators reluctant to ballast from the East, they instead chased the shorter rounds. Rates tumbled on the West Australia/China run, coming very close to dipping below $5.00. However, with voyage and timecharter rates so low, some owners stood back, with an uptick in paper values prompting resistance as the week closed out. There was talk of a C5 West Australia/China run for 25 April onwards booked at $5.30. Timecharter rates were still paying a premium to voyage, but dropped to four figures, with talk of under $8,000 daily close to fixing for an Australian round. Ships heading for Brazil saw rates fall sharply, with the Tubarao/China rate barely in the mid $12.00s.
A potential 90-day closure at Acu, Brazil, saw several ships freed up and competing for prompt cargoes. North Atlantic trading was extremely slow, and as the week closed out, a well-described 180,000-tonner fixed from Sines for a trip via Ponta Da Madeira to Turkey, at $7,500 daily basis, redelivery Cape Passero. Front haul trading was slow, but Oldendorff secured a 12-year old 180,000-tonner spot Falmouth, for a run East with various loading options, at $17,500 daily. Period rates have eased, but charterers continued to have an appetite for tonnage, albeit at lower levels.
Panamax
The week was disrupted due to the various holidays. Falling paper values meant period fixing dried up, but brokers suggested that charterers were still keen to take forward cover, although at discounted levels. The spot market in the Atlantic saw a significant correction this week, with early tonnage forced to chase the bids down to find cover, after a buildup of tonnage on the Continent. East coast South America remained busy, but again rates eased with modern Kamsarmaxes fixing at around $15,500 plus $550,000 ballast bonus compared to around $16,500 plus $650,000 ballast bonus the previous week.
The Pacific was hit even harder, with a lack of mineral cargoes blamed for falling rates, and the prevailing uncertainty deterring some owners from ballasting. A week ago, a modern Kamsarmax fixed, and failed, at $14,000 for a NoPac round voyage, and then re-fixed a few days later at $12,000 for the same route with rates taking further hits. Although a quiet end to the week, there was a consensus that the market was bottoming out, and an injection of fresh enquiry could see fortunes reversed.
Supramax
Due to the combination of holidays, both at the beginning and end of the week, together with some concern over possible trade wars, the market saw softer tendencies. Details of older period fixtures emerged, with a 57,000-dwt fixed basis delivery Zhoushan, for about five to seven months worldwide, trading at $12,500.
In the Atlantic, rates agreed were lower, but from East coast South America a 60,000-dwt was rumoured fixed basis delivery Recalada for a trip to China, in the upper $15,000s plus $575,000 ballast bonus. A 55,000-dwt was linked to a trip delivery where, when ready River Plate redelivery East Mediterranean, at around $18,000. Activity from the Mediterranean included a 53,000-dwt booked, delivery Constanza for a trip redelivery West Africa, at $11,550. Downward pressure remained in the US Gulf, with brokers reporting a buildup of tonnage. A 53,000-dwt was fixed in the high $13,000s, basis delivery Santa Marta trip to the UK, in the high $13,000s.
Asia did see similar activity levels to last week, but as the week progressed holiday fever took over. Nickel ore movements remained, with a 61,400-dwt fixed delivery CJK via Indonesia to China at around $13,000 to $14,000ss. A 56,000-dwt was reported fixed delivery Prai via Indonesia redelivery South East Asia, at $12,250. On the backhaul runs, an Ultra was rumoured fixed at $5,750 for the first 65 days, and thereafter, mid $13,000s, for a trip to the US Gulf. Little activity was reported from the Indian Ocean this week.
Handysize
A shorter working week in both the Atlantic and Pacific, as holidays in China from Thursday onwards slowed activity, especially in the Pacific. Rates from the US Gulf started to ease, while some larger-sized handy vessels were reportedly competing with Supramax stems in East coast South America. On the period front, a 45,000-dwt open Vietnam was booked for five to seven months at $11,500 daily redelivery worldwide. In the Atlantic, a 35,000-dwt was fixed to ARA-Ghent range at $10,400 daily, basis delivery in the Black Sea. A 28,000-dwt was booked with the same delivery for moving sulphur to Morocco at $10,000 daily. From East coast South America, brokers awaited the next fixture for a new benchmark to be set. In the East, a 37,000-dwt was reported to have fixed to move grain via NoPac, at $10,500 daily basis, delivery CJK.
Source: Baltic Briefing
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Friday, 30 March 18
SHIPPING INDUSTRY CONFIDENCE HITS FOUR-YEAR HIGH - MOORE STEPHENS
Shipping Confidence Survey
In February 2018, the average confidence level expressed by respondents was up from 6.2 in November 2017 t ...
Friday, 30 March 18
EXPLAINING POLAND'S COAL PARADOX - FORBES
In the U.S. coal is succumbing to market forces despite the Trump Administration’s push to support the industry. Abundant, cheap and cleaner ...
Friday, 30 March 18
THIESS SECURES $140M MT OWEN INCREASE
Thiess has secured a A$140 million increase to its contract with Glencore for coal mining services at Mt Owen in the Hunter Valley, Australia. Mt O ...
Wednesday, 28 March 18
THIESS WINS $280M WAHANA EXTENSION
Thiess has been awarded a three-year $280 million contract extension at the Wahana coal mine in South Kalimantan, Indonesia.
According to Thie ...
Wednesday, 28 March 18
RIO TINTO TO SELL KESTREL MINE FOR $2.25 BILLION - REUTERS
Rio Tinto sold its remaining coal asset Kestrel in Australia to private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk for $2.25 ...
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- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
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