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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, 23 December 15
FOB NEWCASTLE COAL SWAP CLOSES FIRM
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery up $0.45 per ton (1.22%) month over month to US$ 37.20 per ton. The swap wa ...
Tuesday, 22 December 15
3800 GAR INDEX CLOSED AT US$ 22.03 PER TON; DOWN 0.15% W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.03 per ton (-0.07 %) week over week.
According to the CS (i) coal (system generated ...
Monday, 21 December 15
Q3' 2016 CFR SOUTH CHINA COAL SWAP CLOSED SLIGHTLY LOWER COMPARE TO Q1'16 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery up US$ 0.20 (0.48%) per ton month over month.
A commodity swap is a ...
Sunday, 20 December 15
THE FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI facing all time low's this week. The bulk dry index closed at 477 points on 18 December 2015.
The cape index was als ...
Friday, 18 December 15
WHEN IS A MASTER ENTITLED TO REFUSE DAMAGED CARGO? A REMINDER - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
A master’s authority to clause bills of lading issued by or on his behalf can sometimes become the cause of disagreeme ...
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- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Australian Coal Association
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- The University of Queensland
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
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