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Friday, 14 June 19
PANAMAX: OUTLOOK IS MIXED - FERNLEYS
FearnleysCapesize
Sentiment changed to a more nervous tone as pacific cargo volumes failed to deliver as expected, however latest activity indicates resistance to further softening, says Fernleys in its latest report. 
 
Average daily earnings were around at US$ 14000 down around 5 pct w/w, with the two main conference routes W Australia/China and Brazil/China contributing equally much to the slight decline. 
 
Fernleys further noted that, outlook is mixed, as 2 major Australian miners have fiscal year ending 30 June and their July volumes could thus be moderate - and coal prices/trades give little reason to cheer, whilst on the other hand numerous vessels busy fitting scrubbers plus the apparent return of Brazilian miners to spot scene calls for cautious optimism on the crucial front haul trades. 
 
Major players keep being busy picking period units, last exemplified by 177000 dwt 2010-built China prompt done for 17-19 months at US$15500, 177000 dwt 2007-built done for 22-25 months at US$15300, and 179000 dwt 2010-built rumoured for 6-9 months at US$15900.
 
Panamax
Commenting on Panamax sector, Fernleys says, the market has turned down in both basins this week, with the TA-rates especially taking a major hit. A transatlantic round voyage currently yields around US$7,000 per day, while a short front haul from the continent yields something the middle of US$ 16,000. In the east, a Pacific round voyage now pays around the US$ 10,000's per day. The BPI 4TC-index is down 155 points for the week, currently at 1149. 
 
Supramax
A slow start to the week with holidays across many countries in Europe, but with some more activity by mid week. 
 
From ECSA vessels are fixing around $ 14000 to Med, similar rates obtained from USG for the same direction. In the Pacific, bad weather has created problems for several coal producers, leading to several spot vessels in South Kalimantan and also putting pressure on rates elsewhere in Pacific. 
 
Indo/China coal rv's are paying owners around US$7000 del Singapore. While in the Indian Ocean South Africa /WCI paying low US$12k + US$225k gbb and WCI to Bangladesh around mid/high US$ 9000, said Fernleys.


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Recent News

Monday, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...


Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...


Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...


Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...


Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...


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