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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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Tuesday, 08 December 15
HOW TO MITIGATE LEGAL RISKS WHEN PURCHASING BUNKERS - LESSONS LEARNED FROM THE OW BUNKER COLLAPSE - THE SWEDISH CLUB
KNOWLEDGE TO ELEVATE
About a year has passed since OW Bunker & Trading A/S filed for bankruptcy. The collapse shows that there are signifi ...
Monday, 07 December 15
5000 GAR CS (I) COAL INDEX REMAIN THE SAME OVER LAST WEEK
COALspot.com: The 5000 GAR CS (i) coal index remain the same over last week.
According to the CS (i) coal (system generated) index, the CS 50 ...
Monday, 07 December 15
COAL DEMAND IN 2016 FAILS TO SUPPORT PRICES; CFR SOUTH CHINA COAL SWAPS SEEN AT $US 42 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 1.70 (3.88%) per ton month over month.
A commodity swap ...
Sunday, 06 December 15
THE BDI DECLINED BY 3.09 PERCENT TO 563 POINTS ON 4 DECEMBER
COALspot.com: The BDI declined by 3.09 percent to 563 points on 4 December 2015.
The Cape index was also declined by 10.01 percent to 890 poin ...
Sunday, 06 December 15
DRY BULK MARKET ON REVERSE MODE, SET TO BREAK NEW ALL-TIME LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been the negative “star” of the shipping industry for quite some time. In fact if it wasn’t for the boomi ...
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- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- PTC India Limited - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Economic Council, Georgia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
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