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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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Tuesday, 05 January 16
4200 GAR COAL INDEX FALL TOWARD $27;SLIPPED 28.05% YEAR-TO-DATE
COALspot.com: Average 5000 GAR coal index has not moved in the past week, averaging $40.12 per ton on last Thursday, according to CS (i) Coal Index ...
Monday, 04 January 16
CFR SOUTH CHINA COAL SWAP REMAIN FLAT OVER CHRISTMAS & NEW YEAR HOLIDAYS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.68 (1.64%) per ton month over month.
A commodity swap is ...
Friday, 01 January 16
FOB INDONESIA COAL SWAP FOR Q1'16 DELIVERY CLOSED AT $36.75 PER TON
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month but flat week over week.
According to AsiaClear OTC coal swap' ...
Thursday, 31 December 15
COAL PRICES FELL ON WEAK DEMAND
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap decline month over month and slightly up week over week.
The Q1’ 2016 ...
Thursday, 31 December 15
2016 FOB NEWCASTLE COAL SWAP RALLY TO CLOSE AT $37.98/TON
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.48 per ton (4.05%) this past week compared to the sam ...
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- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Australian Coal Association
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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