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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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Wednesday, 10 August 22
THE FUTURE OF COAL: EIGHT KEY THEMES FROM THE GLOBAL COAL FORUM - WOOD MACKENZIE
Coal investors face a multi-layered and unavoidable challenge: markets distorted by war, trade constraints and the existential threat of the energy ...
Saturday, 06 August 22
SUMITOMO Q1 PROFIT RISES 45% ON STRONGER PRICES OF COAL, NICKEL - REUTERS
Japanese trading house Sumitomo Corp 8053.T said on Wednesday its net profit for the April-June quarter rose 45% to a record thanks to higher price ...
Saturday, 06 August 22
GERMANY'S ENERGY U-TURN: COAL INSTEAD OF GAS - DEUTSCHE WELLE
Berlin has realized it will never again import as much energy from Russia as before the Ukraine war. So the challenge is to wean Germany off its de ...
Saturday, 30 July 22
NUANCES OF FORCE MAJEURE CLAUSE - BALTIC EXCHANGE
Knowledge to Elevate
In NKD Maritime Limited v. Bart Maritime (No 2) Inc (Shagang Giant) [2022] EWHC 1615 (Comm), Bart Maritime (No 2) Inc (th ...
Saturday, 30 July 22
AEMO URGES QUICKER SHIFT TO RENEWABLES AMID COAL FAILURES AND SOARING FOSSIL FUEL COSTS
The Australian Energy Market Operator has called for an accelerated shift to wind and solar, backed up by batteries and other storage, as a devasta ...
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- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
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