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