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Monday, 30 March 20
PANAMAX: INDONESIA LACKED VOLUME, PARTLY DUE TO FORCE MAJEURE IN INDIAN PORTS - BALTIC BRIEFING
.jpg) Capesize
As Covid-19 continued to ratchet up tensions across the globe, the Cape market dealt with the change to remote working. Most regions of the world are now under no illusions as to the severity of this crisis and are acting to mitigate amongst the daily changing circumstances. Force Majeure declarations are increasingly common, with the latest heard being at European steel mills. At the beginning of this week South Africa announced intended lockdowns on its mines. This led to a rush of fixtures on Tuesday, as West Australia to China C5 potentially became the only show in town with cargo flow. C5 traded down to a low of $4.003 this week before lifting at the end of the week to $4.223. Brazil to China business has maintained a faint heartbeat, with owners being picked off slowly at ever sharpening levels. C3 closed the week out at $9.29. The Cape 5TC closed out the week at $3,675, down -392. Next week promises to be defined as another one of uncertainty. While some industries are feeling the impact more than others, it’s imperative in these trying times we all keep calm and carry on – remotely.
Panamax
A turbulent week with Covid-19 dominating headlines. Subsequently, Force Majeure was declared in several countries and integral shipping ports, as nervousness enveloped the market. Nevertheless, bright news of soya bean meal crushing margins turning positive in China and a good volume of fresh sales were concluded ex-Brazil and USA into China as a result thereof. This translated into a positive move for the Baltic Panamax Index (BPI) route P6, with rates moving on the week. Rates for fronthaul trips, basis delivery Southeast Asia and India positions, were fixed in the $8,000’s, with one very well-described 82,000dwt vessel achieving $9,500 from Singapore. Asia was something of a two-tier market, with the North seeing improved numbers due to solid levels of North Pacific demand. A very good design 81,000dwt new building, delivery South Korea, achieved $7,750 for a North Pacific round trip, whilst Indonesia lacked volume, partly due to Force Majeure in Indian ports, which drove down coal sales.
Supramax/Ultramax
An anaemic week for the Supramax market – driven lower predominantly by the Atlantic routes, as macro concerns continued to weigh heavily on the index. On already decreasing cargo volumes, many charterers, who were not forced to comply with tight nominations, duly withdrew from the market. Meanwhile, brokers said that the tonnage count in the Atlantic continued to grow – correspondingly the offers appeared to track down. The crucial long ton-mile fronthaul routes suffered a significant amount of erosion, with the S1B Black Sea to China route losing $1,518 on the week to close at $16,782, the S1C US Gulf to China route dropping $1,867 on the week to close at $19,042, and the S5 East Coast South America to China route declining by $2,430 on the week to close the week at $9,909. Finally, the average of the timecharter routes posted losses of $1,092 to settle at $7,054 on the week. The short-term outlook remains one of further weakness.
Handysize
The consecutive positive trend since mid-February came to an end, with the overall Handysize Index (BHSI) declining from midweek. Rates from the Continent moved sharply lower, with limited cargo support, whilst some market players chose to move cargoes by using own tonnage. Volume was described to be thin in both East Coast South America and the US Gulf. This was especially the case from the second half of the week onwards, with stems reportedly being cancelled or pushed back due to delays or closure at load-ports. A 34,000dwt vessel open Rotterdam was fixed at $10,000, basis delivery Rouen, for moving grains to Algeria. A 32,000dwt ship was fixed from Southwest Pass for a trip with petcoke to Huelva in the early part of the week at $9,500. The movement in the Pacific was not significant this week, with the market showing a similar trend as the Atlantic Basin.
Source: The Baltic Briefing
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Friday, 03 April 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Wednesday, 01 April 20
TRADERS SCRAMBLE TO SELL CHEAP CRUDE CARGOES AS GLUT GROWS - REUTERS
Oil traders across the globe are offering cargoes far in advance as rapidly vanishing demand drives key physical crude prices to multi-decade lows, ...
Wednesday, 01 April 20
MARKET INSIGHT - INTERMODAL
There is an old, allegedly Chinese, saying suggesting that living in “interesting” times usually refers to times of trouble. The latest ...
Tuesday, 31 March 20
FREIGHT MARKET: DRY BULKERS - SPOT MARKET 23-29 MARCH 2020
Capesize
The rebound in freight rates resumed this past week, with rates man-aging to post further gains by week’s end. The BCI is in negat ...
Tuesday, 31 March 20
DRY BULK: Q1 HAS BEEN THE WORST QUARTER NOTED FOR MORE THAN 3 YEARS NOW - ALLIED RESEARCH
At this point, the Covid-19 pandemic seems to be monopolizing all market (as well as all other) discussions across the world and any market insight ...
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- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
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