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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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Sunday, 13 December 15
THE LOW VESSEL DEMANDS PUSHED DOWN BALTIC DRY INDEX FURTHER DOWN
COALspot.com: The low vessel demand across nearly all vessel sizes pushed the Baltic Exchange’s main sea freight index further down in this F ...
Sunday, 13 December 15
DRY BULK RATES KEEP ON FALLING AS LOW VESSEL DEMAND IS STILL THE NORM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market nowadays is in an endless downward spiral, which as it turns out is unable to recover, at least as long as the current balance ...
Friday, 11 December 15
US COAL PRODUCTION UP 7.7% IN WEEK ENDED DECEMBER 5, 2015
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 10 December 15
LIENING CARGO - WHICH LIEN CLAUSE APPLIES TO THE BILL OF LADING? : WIKBORG REIN | HELLENIC SHIPPING NEWS
KNOWLEDGE TO ELEVATE
In a dry bulk market where a charterer is not paying freight or hire, its counterparty is often left to consider whether ...
Thursday, 10 December 15
CANADIAN MINER TECK ANNOUNCES LNG HAUL TRUCK PILOT PROJECT
Teck Resources Limited is piloting the use of liquefied natural gas (LNG) as a fuel source in six haul trucks at its Fording River steelmakin ...
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- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Australian Coal Association
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- The University of Queensland
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
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