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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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Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
Tuesday, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
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