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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, 10 January 16
LNG BUNKERING IN ASIA: FUELING A PROMISING FUTURE? - REED SMITH
The requirement of a mandatory reduction of sulphur content in bunker fuel proposed by the International Maritime Organisation (IMO) poses a challe ...
Saturday, 09 January 16
BALTIC DRY INDEX SINKS 10% WEEK OVER WEEK TO AN ALL-TIME LOW OF 429 POINTS
COALspot.com: The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, decline around 10% we ...
Friday, 08 January 16
FOB INDONESIA COAL SWAP FOR DELIVERY H1'16 REMAIN FLAT AS DEMAND DROPS OFF
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month, flat week over week. The price for coal has been in a Dull Market sinc ...
Friday, 08 January 16
FOB RICHARDS BAY COAL SWAP FOR Q2'16 DELIVERY CLOSED UP $0.13 AT $45.50 PER TON
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap decline month over month and slightly up week over week.
The Q1’ 2016 FOB R ...
Friday, 08 January 16
WEEKLY US COAL PRODUCTION DECLINES 1.6% TO 11.7 MMST, SAYS EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.7million short ...
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Showing 2616 to 2620 news of total 6871 |
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- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- The University of Queensland
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
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