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