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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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Thursday, 10 December 15
FOB RICHARDS BAY COAL Q3' 16 DELIVERY SWAP WAS CLOSED 7.27% PER TON LOWER COMPARED TO AVERAGE Q1' 16 DELIVERY PRICE
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
Wednesday, 09 December 15
U.S. COAL EXPORTS DECLINE IN 2015 DUE TO SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES - EIA
COALspot.com: The slower growth in world coal demand and lower international coal prices have contributed to a decline in U.S. coal exports in 2015 ...
Wednesday, 09 December 15
DRY BULK EXPERIENCES THE PERFECT STORM - PANOS TSILINGIRIS
Dry bulk experiences the perfect storm as the slowing of demand predominantly because of China sat atop the exaggerated oversupply. The BDI broke t ...
Tuesday, 08 December 15
OPEC'S DECISION BODES WELL FOR THE TANKER MARKET: STRONG MIDDLE EAST CRUDE EXPORTS WILL CONTINUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
OPEC’s latest decision to keep up oil production is seen by shipbrokers as a further boost for the tanker market. At the end of last year OPE ...
Tuesday, 08 December 15
Q1' 16 API 5 FOB NEWCASTLE COAL SWAP CLOSED AT $ 36.73 A TON; 1.73% HIGHER COMPARED TO Q3' 16 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $1.47 per ton (3.85%) month over month to US$ 36.73 per ton. The swap ...
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- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Australian Coal Association
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- White Energy Company Limited
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
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