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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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Monday, 01 February 16
INDONESIA'S SECOND LARGEST COAL MINER ADARO ENERGY HAS PRODUCED 51.46 MT IN 2015; 8% LOWER COMPARED TO FY14
COALspot.com: Adaro Energy, the Indonesia’s second largest coal producer by volume has produced 51.46 Mt in 2015, 8% lower compared to ...
Sunday, 31 January 16
BDI CONTINUED ITS FALL AND CLOSE AT A FRESH RECORD LOW ON FRIDAY
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertilizer, continued it ...
Friday, 29 January 16
INDONESIAN BENCHMARK COAL PRICE SETTLES DOWN $ 0.31, OR 0.58%, AT $ 53.20 A TON
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further down in January 2016. HBA has slumped by 0.58 ...
Friday, 29 January 16
U.S. COAL PRODUCTION OFF 2 PERCENT FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 milli ...
Thursday, 28 January 16
COAL REMAINS THE NO.1 FUEL FOR POWER GENERATION - EXXONMOBIL
COALspot.com: Energy demand trends from 2010 to 2040 are expected to vary significantly around the world, as countries move along very different tr ...
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- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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