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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, 06 December 15
DESPITE TEMPTING NEWBUILDING PRICES, CONTRACTING IN DRY BULK REMAINS LOW - BIMCO
The current newbuilding prices for dry bulk ships has dropped so much that they just passed the lows of 2012 heading downwards and are now at the l ...
Friday, 04 December 15
FOB INDONESIA COAL SWAPS ARE ALMOST FLAT OVER WEAK DEMAND
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and rose slightly week over week. Coal prices seen very margi ...
Friday, 04 December 15
COAL PRODUCTION IN THE U.S. FOR W/E NOVEMBER 28TH FELL SLIGHTLY FROM THE PREVIOUS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 15.0 million shor ...
Friday, 04 December 15
MINING OUTLOOK WEAKENS FURTHER ON FALLING CHINESE DEMAND - FITCH
COALspot.com: Fitch Ratings' outlook for the global mining sector in 2016 is firmly negative, reflecting our view that Chinese demand will cont ...
Thursday, 03 December 15
DRY BULK: THERMAL COAL LOWER USAGE UNDER A POTENTIAL NEW CLIMATE DEAL WILL ADVERSELY IMPACT THE MARKET'S RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In direct contrast to the tanker market, the dry bulk one has seen demand for key commodities, such a coal, dwindling down over the course of the p ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
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- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
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- Economic Council, Georgia
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- Central Electricity Authority - India
- Parliament of New Zealand
- The University of Queensland
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- Metalloyd Limited - United Kingdom
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- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
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- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
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- Banpu Public Company Limited - Thailand
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- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
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