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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, 12 February 16
DRY BULK MARKET'S FORTUNES STILL TIED WITH CHINA'S ECONOMY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The inevitable slowdown of the Chinese economy was expected to hurt dry bulk shipping, but few expected the blow to be this hard, especially given ...
Friday, 12 February 16
COAL PRICES ARE EXPECTED TO DECLINE 13% IN 2016 TO $50 ATON, ON CONTINUED WEAK DEMAND AND OVERSUPPLY - WORLD BANK
COALspot.com: Thermal coal prices fell 9 percent in the fourth quarter on continued weak demand, high stocks, and surplus production, World Bank sa ...
Friday, 12 February 16
U.S. COAL PRODUCTION OFF 5.4% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.9 million shor ...
Thursday, 11 February 16
GLOBAL NEWBUILDING ORDERBOOK IS SHRINKING ON A DAILY BASIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2016 has started right where 2015 left off when it comes to newbuilding ordering activity, i.e. there are slim pickings to be had from shipyards ar ...
Wednesday, 10 February 16
SOUTH AFRICA IS HOPING TO SHIP MORE COAL TO INDIA IN 2016
COALspot.com: South Africa is hoping to boost coal exports to India after shipping a record 75.4 million tonnes of coal in 2015, industry officials ...
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- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Renaissance Capital - South Africa
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