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Monday, 20 August 18
SUPRAMAX: OVERALL IT WAS A POSITIVE WEEK FOR THE BSI INDEX WITH GAINS MADE - THE BALTIC BRIEFING
 Capesize
A week of largely unfulfilled expectations with holidays again curbing activity. Rates remained essentially healthy, but despite bad weather in China, possibly causing disruption to schedules rates on the major West Australia/China routes, rates eased but gained some ground as the week closed out. Rio Tinto fixed an early September cargo from Dampier to Qingdao at $9.60, but a 2000-built, 170,000dwt fixed and failed for an Australian round with CJK delivery 20 August at $26,750 daily. A 176,000dwt, 2011-built with the same owner agreed the same rate for 18 August delivery. There was allegedly a stream of ships in ballast to Brazil for the second half of September, but rates for earlier positions were still holding around the mid $24.00s from Tubarao to Qingdao, and a ship fixed for 31 August cancelling at $25.00, with the vessel said to be open in the Atlantic rather than a ballaster from the East. Early in the week, Vale was rumoured to be fixing several ships for 1-15 September but details were elusive. However, a Newcastlemax was done at $23.75 with standard Capes around $24.15-25 – all fixed without broker input. CSN, as trading closed, was said to have several vessels running East for similar dates, but details were unclear. The North Atlantic was again feast or famine, with rates easing early in the week as the cargo list shrunk. However, the list of tonnage remained limited and as more ships were picked off, supplemented by a fresh injection of cargo in the latter part of the week, owners were again hopeful of further gains. An 181,000dwt, 2013-built open Rotterdam promptly fixed a Ponta Da Madeira/Turkey cargo at $25,000 daily, with redelivery in Cape Passero.
Panamax
There was a steady increase in Trans-Atlantic rates throughout last week as the tight tonnage supply began to take effect. As usual it started on the North Continent with the shorter mineral runs. Kamsarmaxes fixed midweek via the Baltic redelivery Gibraltar at $15,000 compared to $13,750 a week earlier, and this also filtered down to other areas, with a Panamax fixed at $14,500 for a US EC round compared to a Kamsarmax achieving $12,000 just over a week before. Front haul rates remained flatter with a lack of enquiry from areas other than EC South America which has now become more active for September stems. Rates there increased from about $15,750 plus $575,000 ballast bonus for a Kamsarmax the previous week to about $16,250 plus $625,000 ballast bonus last week. It was a similar story in the Pacific too. The improvement in round-voyage rates began in the North with limited well described Kamsarmax tonnage available for NoPac stems, followed by a sharp increase in mineral demand from EC Australia and Indonesia. The indices rose by more than $1,500 per day on the round voyage routes, with Kamsarmaxes fixed in the low $12,000s for EC Australian rounds, compared to low $10,000s a week earlier. Period interest from charterers increased along with an improved spot market, also supported by increased paper values, although concluded trades were few and far between.
Supramax
Overall it was a positive week for the BSI index with gains made. This was mainly due to improved levels achieved from key areas in the Atlantic Basin. Period activity was seen again with a 52,000dwt open USG covered for a short period in the mid $14,000s, redelivery Atlantic.
The Atlantic saw significantly higher levels discussed with a good demand from the USG and Black Sea regions. An Ultramax was linked to a USG Trans-Atlantic trip at around $23,000, whilst a 57,000dwt fixed a front haul from here at $24,500. Similarly, from the Black Sea area demand was up, with limited tonnage supply. A 56,700dwt was fixed for delivery Egypt for a trip via the Black Sea for redelivery SE Asia in the mid $19,000s. The Continent remained steady with a 60,300dwt booked for a trip, delivery UK via the Continent, redelivery East Mediterranean at $15,500. Whilst activity remained scarce from the South Atlantic rates, held with a 55,000dwt fixed delivery Plate trip to the East Mediterranean in the low $15,000s.
In contrast the Asian market lacked impetus, but as the week came to a close some suggested more positive activity was evident. A 58,000dwt open Cambodia went for a run to Bangladesh at $12,000. Whilst a 63,000dwt open Hong Kong was fixed for a trip via Indonesia, redelivery WC India at $9,250. There was very limited information from the Indian Ocean, but a 57,800dwt was booked, delivery Port Elizabeth trip, redelivery Singapore-Japan at $11,800 plus $180,000 ballast bonus.
Handysize
The Atlantic Basin was largely flat throughout the week, although the USG started to show signs of a minimal recovery towards the weekend. Most of the fixture information came from the East but the rates remained weak. More short period activity was reported during the week with a 38,000dwt, 2010-built fixing at $10,500 basis Khalifa for three to five months. A 32,000dwt, Japan-built open SE Asia in the second half of August was booked for 11-13 months at $9,500. A 29,000dwt logger was fixed at $8,500 for three to five months with delivery in southern China.
A 31,000dwt, 2011-built open Orinoco this week fixed a trip to the Mediterranean-Continent range at $10,250 early last week. A 37,000dwt, 2011-built open South China was covered to move steel to SE Asia at $9,000. A similar steel trip paid $8,250 on a 28,000dwt basis Tianjin, via Japan and redelivery in Thailand. Trips via Australia were reportedly done at $7,400 on a 33,000dwt open in the Philippines to Vietnam, and $8,250 on a 32,000dwt open Singapore to China. A 36,000dwt open in Singapore was booked for moving alumina to EC India at $10,000. In the Persian Gulf, a 38,000dwt, 2015-built was fixed at $9,000, with delivery in Bahrain for a trip to the Red Sea.
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Friday, 30 April 21
HIGH-SULPHUR FUEL OIL SALES REBOUND AFTER PRE-IMO 2020 - BIMCO
HSFO sales are up 47.2% from Q1 2020, reaching 3.1m tonnes. This is however still less than a third of high-sulphur fuel sales in Q1 2019, before t ...
Wednesday, 28 April 21
MARKET INSIGHT - INTERMODAL
Despite the current challenges as a result of the global pandemic, 2021 is turning out to be a landmark year for the iron ore market with spot pric ...
Monday, 26 April 21
CHINA TO FURTHER CUT COAL USE IN 2021 - XINHUA
China aims to reduce the share of coal in its energy mix to less than 56% this year, according to a guideline released by the National Energy Admin ...
Wednesday, 21 April 21
COAL FINANCING COSTS HAVE SURGED IN PAST 10 YEARS - UNIVERSITY OF OXFORD - THE GUARDIAN
Coal financing costs have surged over the last decade as investors demand returns four times as high as the payoff required from renewable energy p ...
Tuesday, 20 April 21
US DOLLAR LIBOR TRANSITION IN ASSET FINANCE - WHERE ARE WE NOW? - WATSON FARLEY & WILLIAMS
Since our last article, there has been a raft of regulatory and market body announcements relating to the transition away from LIBOR and the follow ...
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- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- The University of Queensland
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
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