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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, 18 November 22
REALITIES OF LOI LIABILITIES - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
The cargo misdelivery claim in Trafigura Maritime Logistics Pte Ltd v. Clearlake Shipping Pte Ltd (Miracle Hope) [2022] E ...
Tuesday, 15 November 22
CHINA SEES RISING COAL STORAGE AMID SUPPLY PUSH - XINHUA
Coal stockpiles at China’s power plants have seen considerable increases, ensuring energy supply for the winter, the country’s energy r ...
Tuesday, 15 November 22
SEABORNE THERMAL COAL PRICES START TO EASE, BUT PROCESS IS UNEVEN - REUTERS
Prices for seaborne thermal coal have started to drop as fears of a winter energy crunch ease, but the rate of decline has varied across the differ ...
Thursday, 10 November 22
INDIA: THERMAL PLANTS HAVE ADEQUATE COAL STOCKS AT 25.6 MILLION TONNES, SAYS GOVT - IANS
The coal stock with domestic dry fuel-based power plants, as on October 31, was 25.6 million tonnes, the government said, adding that the availabil ...
Tuesday, 08 November 22
OUTLOOK ON CHINA’S WEAKENED BASIC MATERIALS SECTOR CLOUDED BY POLICY SWINGS - FITCH RATINGS
Fitch Ratings expects basic materials demand in China to improve qoq in 4Q22, driven by seasonally higher construction activity, solid infrastructu ...
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- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- ICICI Bank Limited - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
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