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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, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
Tuesday, 13 December 22
COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
Tuesday, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
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- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- The University of Queensland
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Planning Commission, India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
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