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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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Wednesday, 17 February 16
TAP ON OPPORTUNITIES IN GROWING ELECTRICITY DEMAND AND NEW COAL POWER PROJECT DEVELOPMENTS IN THE PHILIPPINES - IBC
Tap on Opportunities in Growing Electricity Demand and New Coal Power Project Developments in the Philippines
Coal Power Generation 2016
19- ...
Wednesday, 17 February 16
THE OWNERS FACING HISTORICAL LOW DRY BULK RATES; COAL IMPORTS TO CHINA IS STILL POINTING TO A STRONG TREND OF DECLINING CONSUMPTION
The sharp fall in dry bulk rates that has been taking place since the end of last year and has left owners facing historical low rates for a substa ...
Monday, 15 February 16
CALL THE DOCTOR! SHIPPING'S MEDICAL DRAMA UNFOLDS......- CLARKSONS
The recycling market has started 2016 with a bang, with a huge volume of tonnage heading to demolition facilities. Many of the key shipping markets ...
Monday, 15 February 16
CS 42 COAL INDEX ROSE 0.07% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.15 percent week over week to averaging $38.96 per ton on this past Friday, ...
Monday, 15 February 16
BALTIC INDEX MARGINALLY ROSE BY A POINT D-D; CAPESIZE INDEX DOWN 13 POINTS W-W; PANAMAX INDEX UP 29 POINTS W-W
COALspot.com: The freight markets continued to fall this past week.
The BDI, The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measu ...
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- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- PTC India Limited - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- The University of Queensland
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
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