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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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Monday, 25 October 21
A QUESTION OF POSSESSION - THE BALTIC EXCHANGE
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. Th ...
Monday, 25 October 21
CHINA VOWS TO SEVERELY PUNISH MARKET VIOLATIONS AMID LOW COAL FUTURES PRICES - GLOBAL TIMES
Domestic coal futures had plunged for three consecutive trading days after the government vowed to crack down on soaring prices, and China’s ...
Monday, 25 October 21
FARMERS MAY JOIN THE COAL COMMODITY MARKET TO REDUCE RISKS - GLOBAL TIMES
A recent trip to by the Global Times to East China’s Shandong Province to get a glimpse of China’s coal supply chain revealed a surpris ...
Monday, 25 October 21
CHINA COAL PRICES MARK WORST WEEK SINCE MAY ON GOVERNMENT INTERVENTION - REUTERS
China’s thermal coal futures plunged on Friday and turned in their worst week in five months, following Beijing’s strongest interventio ...
Friday, 22 October 21
THE BIG PICTURE: ENERGY MARKETS - BREAK WAVE ADVISORS
The shipping markets have been pulled further into wild markets of coal and other energy sources. Given how nebulous this sector is, it’s alw ...
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- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
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