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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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Sunday, 24 January 16
PANAMAX MARKET WEAKENS ACROSS THE BOARD
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser, fell ninetee ...
Friday, 22 January 16
WEEKLY US COAL PRODUCTION ESTIMATES ALMOST FLAT
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.3 million shor ...
Friday, 22 January 16
COAL PRICES TO REMAIN UNDER PRESSURE THIS YEAR
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month and week over week. The falling trend of prices for coal was continuing ...
Friday, 22 January 16
Q3' 16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 40.80; DECLINE $ 2.80 M-O-M
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and decline week over week.
The Q1’ 2016 FOB Richards B ...
Wednesday, 20 January 16
Q3'16 FOB NEWCASTLE COAL SWAP CLOSED $ 2.40 LESSER THAN Q1'16 CLOSING PRICE OF $ 38.10
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $0.77 per ton (2.06%) this past week compared to the sam ...
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- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Australian Coal Association
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- Deloitte Consulting - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
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