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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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Tuesday, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
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- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
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