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Friday, 08 January 16
DRY BULK MARKET'S CRISIS DEEPENS AS RATES ARE DROPPING TO NEW RECORD LOWS BY THE DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Just when you would think that the dry bulk market is reaching its bottom, even as it has long surpassed all-time lows, each day that passes by at the start of 2016, brings about more bad news. Yesterday, the industry’s benchmark, the Baltic Dry Index (BDI) reached new lows, plunging by 22 points to a mere 445 points. As it turns out, things will most likely turn worse, before they get better.
In its latest weekly report, commenting on the Capesize market, shipbroker Fearnley’s noted that “as expected rates have been under pressure the first week of the new year. West Australia / China rates are up from sub 3 pmt levels during Christmas to approx USD 3,30 with a slightly further improvement expected. Fronthaul cargoes remain scarce. Some period activity with short period fixtures beeing concluded around the USD 4,500 a day for 175,000 dwts”, said the shipbroker.
Meanwhile, in the Panamax market, Fearnleys said that “activity in the Atlantic seems to increase a bit after X-mas and new year, especially grain from USG and ECSA to far east absorbing tonnage. Transatlantic roundvoyages paying arnd 4000 USD depending delivery, duration and redelivery. Cold weather and more ice can make Baltic and North Atlantic tight, if iceclassed tonnage needed. Sofar rates steady. Rates moving up for fronthaul and 10.000 + 150 bb reported fixed from USG to feast. ECSA to feast paying mid 7 k + 220 k bb.
Grain from ECSA to continent paying mid 6k for a good Kamsarmax. Nopac rounds paying 4000 USD + 100 k bb. Pacific rounds hovering around low/mid USD 3000. Period market slow but
we believe modern tonnage get arnd USD 5500 for 1 year”, the shipbroker noted.
Finally, in the Handy markets, Fearnleys said that “after a quiet holiday period, the market has slowly awakened from its slumber. Rates are not running away but the market looks like it is finding a bottom. Averages for a Surpa are now around mid USD 4000’s and only marginally down from pre Christmas levels. 2016 has started with a couple of period fixtures reported at low USD 6000’s for Ultramaxes. Thus by default Supras will only be worth something in the USD 5’s for a 12 month deal”, it concluded.
In a note this week, BIMCO said that in 2016, it expects the supply-side to grow by around 2% (2.6% in 2015E) – and that this will be helped by a new record level of scrapping. On the demand-side, growth is forecast to remain level. Challenging market conditions in China will be likely to affect the level of risk.
According to the organization’s review of 2015, “the dry bulk market experienced a troublesome 2015 as the ongoing decline in Chinese coal imports was not countered by any significant upswing elsewhere. Whereas iron ore imports were on a par with 2014, steel export from China reached a new high, benefitting mid-sized ships. For 2016, much depends on what Chinese steel mills will do. Will they continue production above domestic consumption – or substitute domestically mined ore with imported ore? The jury is still out.
At the end of November, the Baltic Dry Index hit 498, a new all-time low. For most of the year, the majority of ships have traded below OPEX levels, resulting in financial losses for many companies. The horrific first half of 2015 brought around a new half-year record for scrapping. Improvements in the freight market during Q3 regrettably cooled down demolition market activities. Nevertheless, fleet growth recorded a twelve-year low.
Meanwhile, in the newbuilding market, Fearnleys noted that “only six days into the new year, most of the contracts in the below table were reported in the latter part of December. On the tanker side aframaxes were in focus as Tsuneishi secured an order for 8 vessels of which four went to their “in-house” owners Kambara Kisen. Ship Finance went to Daehan (Korea) for two option two LR2 type product carriers to be delivered in the second part of 2017. The contract was done in combination with a 7+2 years charter to US based Energy Company. At the doorstep of a new year we expect yards to compete strongly for new contractcs in a market with diminishing demand and prices under continous pressure”, the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 19 February 16
INDONESIAN HBA HITS A NEW LOWS BELOW $51 A TON AS OVERSUPPLY, LOW DEMAND WOES PERSIST
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016. HBA has slumped second time t ...
Friday, 19 February 16
U.S. WEEKLY COAL PRODUCTION ROSE 2.6% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.2 million shor ...
Thursday, 18 February 16
INDIA NEEDS INTERNATIONAL SUPPORT ON HIGH EFFICIENCY COAL - WORLD COAL ASSOCIATION
Speaking at a conference in New Delhi today, World Coal Association Chief Executive Benjamin Sporton said the critical role of coal in driving econ ...
Thursday, 18 February 16
CHINA COAL SECTOR - 2015 RESULTS BLEAK, 2016 UNLIKELY TO BE ANY BETTER - FITCH
COALspot.com: China Coal Sector’s Financial Woes to Worsen in 2016.
Fitch Ratings says that the 2015 full-year result previews issued by ...
Thursday, 18 February 16
PANAMAX RATES OUT OF ECSA WERE STILL GAINING A PREMIUM OVER THE REST OF THE MARKET - INTERMODAL
The BDI moved further down last week, fact that hardly took anyone by surprise as the lunar year holidays in Asia on top of the already depre ...
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Showing 2556 to 2560 news of total 6871 |
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- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Economic Council, Georgia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Australian Coal Association
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
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