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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, 10 February 16
OWNERS APPEAR WILLING TO DISPOSE OF TONNAGE THE SOONEST IT HITS THE 10 YEAR MARK - TIMOS PAPADIMITRIOU
COALspot.com: The last two months of 2015 made a case for traditional shipowners to invest in the dry bulk sector, doing so though based purely on ...
Monday, 08 February 16
DRY-BULK SHIPPING DIVING DEEP
COALspot.com: The freight markets continued to fall this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of glo ...
Monday, 08 February 16
DRY BULK: SHIPBROKER SEES BDI MARKET REACHING LOW POINT OF 236 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The endless pit that is the dry bulk market over the past two months, has been the issue of debate among ship owners, shipbroker and analysts alike ...
Friday, 05 February 16
COAL INDIA EYES COAL MINES IN SOUTH AFRICA - PTI
“Coal India Ltd has plans of acquiring coal mines in South Africa,” an official said. It is looking at acquiring mines in partnership w ...
Friday, 05 February 16
U.S. WEEKLY COAL OUTPUT ROSE 4.2% TO 13.6 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.6 million shor ...
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- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- The University of Queensland
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
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