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Monday, 30 March 20
PANAMAX: INDONESIA LACKED VOLUME, PARTLY DUE TO FORCE MAJEURE IN INDIAN PORTS - BALTIC BRIEFING
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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, 27 March 20
CHINA'S BULKS: THE SENTIMENT GAP BETWEEN STEEL AND COAL WIDENS - WOOD MACKENZIE
China seems to be containing its local coronavirus situation, with imported cases now posing the greater threat. While quarantine measures remain t ...
Friday, 27 March 20
S.KOREA Q1 THERMAL COAL IMPORTS SET FOR 10-YR LOW ON ANTI-POLLUTION MEASURES - REUTERS
South Korea’s first-quarter thermal coal imports are set to fall to a decade-low due to stricter air pollution measures, while the coronaviru ...
Friday, 27 March 20
PORT OF NEWCASTLE OPERATIONS CONTINUE WITH COVID-19 RESPONSE MEASURES IN PLACE
Port of Newcastle, like many organisations, is taking a precautionary approach to help manage COVID-19 risks in the community. Our focus is on ensu ...
Thursday, 26 March 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, 25 March 20
CORONAVIRUS CRISIS IS CRUSHING GLOBAL GDP GROWTH - FITCH RATINGS
The coronavirus crisis is crushing global GDP growth according to Fitch Ratings in its latest quarterly “Global Economic Outlook” (GEO) ...
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- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- The University of Queensland
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Mjunction Services Limited - India
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