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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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Thursday, 30 June 22
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Thursday, 30 June 22
DIVERGENCE BETWEEN HIGH- AND LOW-GRADE THERMAL COAL PRICES IN APAC TO NARROW - FITCH RATINGS
Prices between high- and low-grade thermal coal in Asia-Pacific (APAC) have diverged since late March 2022, but Fitch Ratings expects the gap to na ...
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- Singapore Mercantile Exchange
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- White Energy Company Limited
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
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