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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, 13 October 21
MARKET INSIGHT - INTERMODAL
Following up on our insight on May 2021, where we discussed about the Capesize market outlook for the second half of the year, we are pleased to se ...
Wednesday, 13 October 21
FBX INDEX: THE IMPOSSIBILITY OF SHORT-TERM FORECASTING - LARS JENSEN
Will freight rates on Asia-Europe or the Transpacific reach 40.000 USD/FFE in the run-up prior to Chinese New Year 2022? Or will they start droppin ...
Wednesday, 13 October 21
CHINA FLOODS: COAL PRICE HITS FRESH HIGH AS MINES SHUT - BBC
The price of coal used in China’s power plants has surged to a new record high as another of the country’s key mining regions is hit by ...
Tuesday, 12 October 21
BUMA SIGNS CONDITIONAL AGREEMENT FOR AUSTRALIAN ASSET ACQUISITION
PT Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, through its newly incorporated Australian subsidiary, BUMA International Pty ...
Tuesday, 12 October 21
INDONESIA'S COAL-BASED POWER PLANTS ARE SUBJECT TO CARBON TAX NEXT YEAR, ELECTRICITY COSTS COULD RISE! - CNBC
The Indonesian government is planning plans to implement a carbon tax of IDR 30 per kilogram (kg) of carbon dioxide equivalent (CO2e) or equivalent ...
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- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- The University of Queensland
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Bhatia International Limited - India
- Planning Commission, India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
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