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Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and New Year break, the Pacific market saw two active miners, contributing to a somewhat optimistic sentiment initially. However, reports of a derailment in Western Australia introduced an element of uncertainty, leading to a decline initially of approximately $1.00-$1.20 on C5 at the beginning of the week. The Atlantic market also faced challenges, with a tightening tonnage list and a widening gap between bid and offer prices. Despite heightened activity in the Pacific on Thursday, the market pressure resulted in a further decline on C5, although there was a feeling that the market was starting to find a floor. This appears to be the case with two miners today having to increase their bid to attract offers, resulting in a slight uptick of approximately 30 cents today C5 as the week draws to a close. In the Atlantic, vessel tightness persisted, particularly for tonnage reaching south Brazil within January dates. Limited activity was observed for the first half of the week, but the prevailing tight conditions, coupled with an increase in activity towards the end of the week, resulting in positive reports of stronger fixtures, has maintained a bullish, yet positional, sentiment in the market. Overall, the BCI 5TC has been positive this week, which started at $28,896 and has closed today at $31,497.
Panamax
Following the Christmas holiday, the Panamax market began sedately across the board, followed by rates coming under pressure from the outset. Downward pressure emanated primarily from a build-up of tonnage, unfixed over the festive period but also from a lack of demand in both basins all week, forcing cheaper levels to be conceded by owners. Following a softer finish to 2023, higher ballaster count from Southeast Asia only compounded to the weaker market. And, with Asia massively unsupported, the immediate outlook appeared extremely bearish; $13,000 was agreed on an 82,000-dwt delivery China for a NoPac round trip but such rate unrepeatable come the end of the week. From the Atlantic, $24,000 was agreed on an 85,000-dwt delivery NW Africa for a long duration trip via US Gulf into the Arabian Gulf with routing via Cape of Good Hope. Some recent period coverage emerged with reports of an 82,000-dwt delivery China achieving $16,250 for one year’s period.
Ultramax/Supramax
Not surprisingly it was a rather muted start to the New Year after the widespread holidays. The Atlantic remained rather sluggish in the South with limited fresh enquiry appearing and a good amount of prompt tonnage available. As the week progressed, some saw slightly better levels of enquiry from the US Gulf although limited fixing appeared. From Asia, brokers suggested that there was little fresh activity from the NoPac and Australia although there seemed to be a reasonable amount of activity from the South. There was little period action although a 63,000 open China was heard fixed for four to six months trading redelivery Singapore-Japan at $17,000 with scrubber benefit for charterers. From the Atlantic, a 63,000-dwt was heard fixed delivery US Gulf trip redelivery East Mediterranean at $26,000. In Asia, a 56,000-dwt fixed delivery Philippines trip via Indonesia redelivery South China at $12,000. From the Indian Ocean, rates remained fairly healthy, a 64,000-dwt fixing delivery Navalakhi trip via Oman redelivery Chittagong at $20,000.
Handysize
After recent holidays, the Atlantic market witnessed large corrections on BHSI this week, with cargo availability limited across the region. On the continent, a 32,000-dwt was fixed basis delivery in Rouen for a trip to Morocco with grains at $11,000, whilst in the Mediterranean a 35,000-dwt fixed from Safi to EC South America at $7,000 and a 38,000-dwt was rumoured to have fixed from Alexandria to Bilbao with an intended cargo of steels at $11,000. The US Gulf also saw reductions as a 39,000-dwt was rumoured to have been fixed from SW Pass to the Black Sea with grains in the low $20,000’s. In the South Atlantic, a 37,000-dwt fixed from Santos to Morocco with a cargo of sugar at $20,000, whilst a 43,000-dwt fixed from Recalada to Venezuela with a cargo of grains at $22,000. Asia was more balanced with an unknown handy fixing from China via Indonesia for a round trip at $9,200 but further information was limited.
Source: Baltic Exchange
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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Planning Commission, India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
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