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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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Thursday, 22 December 22
CHINA TIGHTENS VERIFICATION OF SHIPS’ ENERGY CONSUMPTION DATA - GARD
From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements of their Ship E ...
Thursday, 22 December 22
AN OVERVIEW OF THE LNG MARKET - VESSELSVALUE
LNG values have continued to strengthen, spurred by skyrocketing earnings that have surpassed last year’s record breaking peaks. In November, ...
Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
Chinese coking coal futures dropped more than 3 per cent on Tuesday (Dec 20), extending losses, as supply of the steelmaking input might increase i ...
Thursday, 22 December 22
COAL AND GAS PRICE CAPS MAY COMPOUND POLITICAL RISK FOR AUSTRALIAN CORPORATES - FITCH RATINGS
Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
Monday, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
...
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- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
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