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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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Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
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- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- MS Steel International - UAE
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
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