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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, 20 March 20
VOLATILITY TO INCREASE IN TANKER MARKET FOLLOWING OIL PRICE WAR - DREWRY
Crude oil prices plunged by more than a third in the past week after OPEC+ failed to agree on production cut as demand softened in the aftermath of ...
Friday, 20 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 ...
Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
West Texas Interm ...
Friday, 20 March 20
84% OF FEBRUARY BUNKER SALES IN SINGAPORE ARE LOW-SULPHUR FUELS - BIMCO
Low-sulphur fuels accounted for 84% of total February sales in Singapore, slightly up from 83% in January. The sale of low-sulphur fuel oil (LSFO) ...
Thursday, 19 March 20
A CRUDE TSUNAMI: UP TO 3 MILLION BPD OF EXTRA OIL CAN HIT THE MARKET FROM APRIL, MORE COMING IN MAY - RYSTAD ENERGY
The extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), Rystad Energy estimates. Two million bpd ...
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- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- The University of Queensland
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Planning Commission, India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
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