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Thursday, 05 May 16
DRY BULK MARKET ON REVERSE MODE, AS HOLIDAYS AROUND THE WORLD HURT DEMAND - HELLENIC SHIPPING NEWS
 The dry bulk market’s recent rally has been put on a temporary hold, as various holidays around the world have put a stop in it. In its latest weekly report, shipbroker Fearnleys said that as a result of various holidays around the world, “the last week’s positive trend in the Cape market came to an end. West Australia rates are again sub USD 4 and time charter rates are approaching USD 5000 levels. Activity in the Atlantic is cooling off as well, and period activity is consequently scarce”.
In the Panamax market, Fearnleys said that ‘with bank holidays beginning week, Golden Week in Japan and upcoming holidays in Europe the mrkt has been very quiet this week. Rates continue to slide and the pressure for North Atlantic is no longer there. The recent week’s main driver; grains ex ECSA is coming off. We see fewer stems for May and what is left is being swallowed by the ballasters, most recently at USD 7k+190kGBB. We do not see any immediate signs for recovery either and believe this sliding tendency will continue short term. In the Eastern hemisphere we see the same tendency with rates coming off. Aussie rv being fixed in the high 4k for index type while the bigger kmax can fetch mid 5k. Short periods are being fixed at 5,750 while 1 year at 5k”, it noted.
Finally, “the Supra market in the East, as here in the Atlantic, is affected by the upcoming long weekend. Charterers in general have been trying to use the lack of action to draw the numbers down, but largely without success. The most lively market has still been the Continent which has continued to draw tonnage out of the Mediterranean. Also the Handy’s continue to see good numbers with East Med delivery for loading off the Continent back to the East Med at very healthy numbers considering this is a full round trip. On the period front, an Ultra has concluded short period off West Africa, with WW redelivery at upper USD 9000’s which can be considered healthy”, said Fearnleys.
NEWBUILDING ACTIVITY
Meanwhile, there was very little shipyard activity this week as well. According to Fearnleys, “two VLGCs ordered by Japanese compatriot Nissen Kaiun for construction at MHI. Although no price reported a VLGC is today estimated at low-mid 70s”.
Meanwhile, as Fearnleys noted “the spot activity in the VLGC market has slowed down quite a bit over the last few days, Golden Week in Japan as well as UK and Singaporean holidays on Monday are partly to blame for the sluggish freight market. The main reason, however, are the continued meagre spreads between FOB and CFR prices that at the time of writing only allow for spot rates well below recent (low) market fixtures.
We have counted less than a handful sub-fixtures in the VLGC market since our latest weekly, and the rates have been rather stable returning some USD 20/21,000 per day on modern vessels. The Baltic VLGC index has been quite uninspiring lately, just when the market thought the index was on its way up to more sustainable numbers, the curve turned down and the latest posting is similar to the index level 2 weeks ago. The spot fleet balance does not look bad ahead, but it is not likely that the owners will get the upper hand over the next few weeks unless FOB prices drop and/or CFR prices go up. At the moment owners are willing to repeat the numbers they have been quoting lately, but unfortunately the charterers can only consider discounts to those numbers for the time being.
The panellists for the Baltic Forward Assessment carry on painting a very bleak freight picture over the summer, the VLGC owners probably characterize the forecast as an insult and an annoyance”, said Fearnleys.
Finally, in the demolition market, shipbroker Athenian Shipbrokers said that “with the monsoon season fast approaching and governmental budgets looming, both Bangladeshi and Pakistani buyers entered the market with renewed appetite to buy, concentrating on promptly available units. Prices on offer consequently rose on both markets with several deals being reported. Indian buyers at the shorefront appeared sceptical following a drop in local steel prices; nonetheless several deals were also reported as concluded at levels that were not in line with the sentiment at shore. In the Far East, prices continued to improve, however the gap between what Chinese breakers can offer and the sub-continent remained significant”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 06 May 16
U.S. WEEKLY COAL PRODUCTION UP 9 PERCENT W/W; DOWN 35.3 PERCENT Y/Y - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million short to ...
Wednesday, 04 May 16
COAL IMPORTS: A VOLATILE MATTER OR STILL POWERING DOWN? - CLARKSONS
Chinese coal imports decreased significantly in 2014-15, and so far in 2016 the pace of decline appears to have slowed, with imports even recording ...
Wednesday, 04 May 16
IS THE DRY BULK MARKET OUT OF THE WOODS YET, OR NOT? - HELLENIC SHIPPING NEWS
Things are beginning to brighten up in the beleaguered dry bulk market, which is riding on a multi-week rally to find itself around the “psyc ...
Wednesday, 04 May 16
POWER - WEEK: REAL EXAMPLES AND CASE STUDIES
POWER WEEK
7 - 11 November 2016, PARKROYAL on Beach Road Hotel, Singapore
www.power-week.com
Overview
Designed for the global e ...
Tuesday, 03 May 16
HOW TO AVOID THE LATEST CARGO FRAUDS - BIMCO
BIMCO receives regular reports from members around the world about cargo fraud. This week alone we have had two reports of cargoes being fixed (or ...
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- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- The University of Queensland
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- London Commodity Brokers - England
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