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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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Friday, 18 December 15
CHINA GROWTH SHOCK TO HIT ENERGY, SHIPPING, STEEL MOST - FITCH
Energy, shipping and steel would be the hardest-hit sectors in Asia-Pacific (APAC) in the event of a sharp slowdown in Chinese growth, says Fitch R ...
Friday, 18 December 15
WEEKLY U.S. COAL PRODUCTION REMAINS FLAT ACROSS ALL BASINS
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 17 December 15
THE LOW DEMAND AND EXCESS COAL OUTPUT, KEEP THE FOB INDONESIA COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q1 2016 rose month on month and decline slightly week over week. For the week ended December 11, 20 ...
Thursday, 17 December 15
GLADSTONE PORT COAL RECORD LOOMING, EXPORTS UP 12% - GLADSTONE OBSERVER
COAL exports from Gladstone's port have taken a leap, with more than seven million tonnes leaving the wharves in November.
That increase i ...
Wednesday, 16 December 15
FOB RICHARDS BAY COAL SWAP SLUMP 5.5% FROM LAST MONTH
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
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