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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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Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
Wednesday, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
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- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Australian Coal Association
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
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