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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, 18 January 16
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 42.50 PER TON; UP 1% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.43 (1.02%) per ton month over month.
A commodity swap is ...
Friday, 15 January 16
FOB INDONESIA COAL SWAPS FIRM SLIGHTLY LAST WEEK
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month over month and week over week.
According to AsiaClear OTC coal swap's r ...
Friday, 15 January 16
SHIPPING: 2016 STARTED WITH MISERY ACROSS THE BOARD FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As one would have expected, the dry bulk market starter the new year where it left off in 2015, plunging to never seen before depths, as the market ...
Friday, 15 January 16
U.S. WEEKLY COAL PRODUCTION ROSE ACROSS ALL BASINS: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 14 January 16
FOB RICHARDS BAY COAL SWAP FOR Q3 DELIVERY CLOSED $5.90 LOWER THAN Q1 PRICE
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coal ...
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- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
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