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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, 13 January 16
U.S. COAL PRODUCTION DECLINED BY 109 MMST IN 2015; COAL EXPORTS DECREASED 21% Y-O-Y
COALspot.com: U.S. coal production declined by 109 million short tons (MMst) (11%) in 2015, the largest decline ever recorded, says EIA.
The 2 ...
Wednesday, 13 January 16
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Going through the second week of 2016 we could easily argue that at this point there are no visible signs of an imminent recovery in the Dry Bulk m ...
Wednesday, 13 January 16
IRON ORE IMPASSE - A FAILED CLAIM FOR CONVERSION - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the recent case of the “Bao Yue”, the English High Court found that the bill of lading holder was liable t ...
Tuesday, 12 January 16
5700 GAR COAL FOR DELIVERY WITHIN Q1 FELL 0.91% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin moved South direction week over week to averaging $39.96 per ton on last Friday, acc ...
Monday, 11 January 16
PORT OF NEWCASTLE SHIPPED 20% MORE COAL IN DECEMBER 2015; AVERAGE SELLING PRICE DECLINE 3.43%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.129 billio ...
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Showing 2611 to 2615 news of total 6871 |
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- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- The University of Queensland
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
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