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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, 30 December 15
FINAL DEALS OF THE YEAR TAKING PLACE, AS SHIP OWNERS PREPARE FOR 2016 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Holidays’ investment lull has taken a grip over the newbuilding and S&P market for second hand vessels, as shipbrokers are reporting ...
Tuesday, 29 December 15
CFR SOUTH CHINA COAL SWAPS ROSE MONTH OVER MONTH
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 ...
Monday, 28 December 15
Q2' 15 U.S. STEAM COAL EXPORTS TOTALED 7.0 MMST; DOWN 16.9% FROM Q1 2015 - EIA
COALspot.com: U.S. coal production during second quarter 2015 totaled 211.1 million short tons.
According to EIA’s preliminary quarterly ...
Monday, 28 December 15
NOVEMBER NEWCASTLE COAL EXPORTS DECLINED 11.87%; THE AVERAGE PRICE OF COAL EXPORTS ROSE 1.37%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.120 billio ...
Saturday, 26 December 15
FOB INDONESIA COAL SWAPS KEEP DROPPING
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month and week over week.
According to AsiaClear OTC coal swap's rep ...
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- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Australian Coal Association
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- PTC India Limited - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Planning Commission, India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
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