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Sunday, 13 December 15
DRY BULK RATES KEEP ON FALLING AS LOW VESSEL DEMAND IS STILL THE NORM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market nowadays is in an endless downward spiral, which as it turns out is unable to recover, at least as long as the current balance of demand/supply is maintained. Yesterday, the industry’s benchmark, the Baltic Dry Index (BDI) was down yet again, losing 12 points or 2,2% to 534 points. The Capesize index fell 33 points, or 3.85 percent, to 824 points as average daily earnings for Capesize vessels fell $305 to $7,181. The Panamax Index, dropped four points, or 0.97 percent, to 408 points. Average daily earnings for Panamaxes fell $37 to $3,258. Finally, among smaller vessels, the Handysize index dropped one point to 285 points, and the Supramax index fell five points to 455 points.
Commenting on the Capesize market, in its latest weekly report, shipbroker Fearnley’s noted that “there is a steady supply of cargoes out of West Australia but despite of this, rates are getting softer. Present level is just above usd 4 pmt. Fixing activity out of Brazil is getting less, with more talks than real action. The level remains steady on this trade and the big question is when Vale will be done for this year. Atlantic in general is well balanced, with a time charter level for a transatlantic round close to USD 9,000 daily”.
On the Panamax market, Fearnley’s noted that “the segment is in a steady decline with reduced activity across the board. It has been an extremely quiet week for the Panamaxes in both hemispheres and rates keep on dropping to all time low levels. Transatlantaic business is scarce with most rounds bss APS only in the 6000-7000 range with no BB. Voyage levels are under pressure, and USG fronthaul under 22 for spot and < 19 forward. ECSA business not a safe heaven for ballasters, with APS levels in the 6 + 150 GBB range. Far East is in the dark doldrums with levels APS 3 + 30 for Indo ronds and 4 + 125 for NOPAC. The forward curve is flat and in the mid 5’s for Cal -16, and owners are willing to fix at even less for about 1 year”.
Finally, on the Handy markets, the shipbroker said that it was another lackluster week for the segment. “The average rates keep falling to the tune of abt USD 100 per week. The period market remains thin, but there are some Ultramax owners willing to cover in the USD 6000’s level for abt a year. There is some anticipation relating to the lifting of some export taxes in Argentina, but it is uncertain how big an effect this will have on the market. There have been some COA’s concluded in the last week and owners are not asking for premiums going through 2016, indicating a definite lack of confidence for the upcoming year”, Fearnley’s concluded.
It’s worth noting that among the factors contributing to the fall of dry bulk freight rates is the fact that congestion at most Chinese ports has eased further over the past week due to a general improvement of the weather. Dense fog, strong winds, heavy rain and snow made several China ports close from time to time since late November. In a report, Platts said that “Shanghai, Bayuquan, Qingdao had cleared their backlog of ships, and waiting time for a Capesize vessel to berth was one to three days compared to two to five days earlier. Delays at Jingtang fell by one day, with Capesize vessels currently waiting five days. The port closed Wednesday afternoon at 1400 hours China time (0600 GMT) due to dense fog. But Caofeidian and Tianjin ports were still seeing Capesize vessels waiting ten days for a berth, with both ports closed intermittently over the past week due to dense fog. For Caofeidian, this represented an increase of five days from a week ago. Tonnage supply has risen over the past week, sources said, with owners eagerly offering their vessels in the Pacific region”, it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 18 December 15
WHEN IS A MASTER ENTITLED TO REFUSE DAMAGED CARGO? A REMINDER - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
A master’s authority to clause bills of lading issued by or on his behalf can sometimes become the cause of disagreeme ...
Friday, 18 December 15
CHINA GROWTH SHOCK TO HIT ENERGY, SHIPPING, STEEL MOST - FITCH
Energy, shipping and steel would be the hardest-hit sectors in Asia-Pacific (APAC) in the event of a sharp slowdown in Chinese growth, says Fitch R ...
Friday, 18 December 15
WEEKLY U.S. COAL PRODUCTION REMAINS FLAT ACROSS ALL BASINS
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 17 December 15
THE LOW DEMAND AND EXCESS COAL OUTPUT, KEEP THE FOB INDONESIA COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q1 2016 rose month on month and decline slightly week over week. For the week ended December 11, 20 ...
Thursday, 17 December 15
GLADSTONE PORT COAL RECORD LOOMING, EXPORTS UP 12% - GLADSTONE OBSERVER
COAL exports from Gladstone's port have taken a leap, with more than seven million tonnes leaving the wharves in November.
That increase i ...
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- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Planning Commission, India
- London Commodity Brokers - England
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
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