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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, 08 March 22
RUSSIA-UKRAINE CONFLICT ADDS IMPETUS TO ASIA'S ENERGY TRANSITION - IEEFA
Clean energy alternatives are a crucial hedge against future disruptions in global commodity markets
Russia’s invasion of Ukra ...
Tuesday, 08 March 22
THE HIGH COST OF INDONESIA’S DOWNSTREAM COAL PROJECTS IS UNDERESTIMATED - IEEFA
Three Indonesian ministries have come up with a DME purchase price of US$378/tonne fixed for 20 years compared to IEEFA’s US$601/tonne estima ...
Wednesday, 02 March 22
SHIPPING MARKET INSIGHT - INTERMODAL
The escalating confrontation between Russia and Ukraine has the potential to disrupt global order and set the world back a few decades. While count ...
Tuesday, 22 February 22
THE DRY BULK MARKET HAS MOVED ON A POSITIVE TRACK - ALLIED
The dry bulk market has moved on a positive track as of the past couple of weeks or so. Following the typical softening in freight conditions durin ...
Tuesday, 22 February 22
CHINA'S DAILY OUTPUT OF COAL REBOUNDS TO OVER 12 MLN TONNES - REUTERS
China’s coal output returned to more than 12 million tonnes per day as of Feb. 20, the country’s state planner said on Monday, a level ...
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- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- MS Steel International - UAE
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
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