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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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- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
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