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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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- Tata Chemicals Ltd - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- The University of Queensland
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
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