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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, 24 November 21
WHY THIS MINING ANALYST IS UPBEAT ON THE IRON ORE PRICE FORECAST - MOTLEY FOOL
In many ways, 2021 can be called the year of the iron ore price. Much of the talk of the ASX town this year has revolved around this key economic m ...
Wednesday, 24 November 21
PRICE OF CHINA’S COAL FUTURE DROPS BY 60% AS NATIONWIDE DAILY OUTPUT REACHES OVER 12 MILLION TONS: NDRC - GLOBAL TIMES
China’s daily coal output has now stabilized after reaching over 12 million tons and the price of coal futures has declined to 800 yuan ($125 ...
Friday, 19 November 21
CHINA: COAL SUPPLIES TO STABILIZE FOR COMING COLD SEASON
China is capable of ensuring stable coal supplies this winter and next spring with the increase in coal production and the rising stockpiles at pow ...
Wednesday, 17 November 21
MARKET INSIGHT - INTERMODAL
It has been another declining week for the dry bulk market and evidently, we are seeing asset values gradually losing momentum as well. Following a ...
Tuesday, 16 November 21
EARNINGS RECOVERY IN INDONESIAN COAL TO CONTINUE THROUGH 2021, BUT SLOW IN 2022 - FITCH RATINGS
The recovery in the operating and financial performance of Indonesian coal miners and coal contractors is likely to slow in 2022, but coal prices s ...
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- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
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