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Thursday, 24 January 19
ANOTHER DISAPPOINTING WEEK FOR PANAMAX OWNERS; MARKET CONTINUES DOWN IN BOTH BASINS - FEARNLEYS
FearnlyesCapesize
The week has been marked by low activity and dropping rates in both basins. As usual, supply additions have increased at the beginning of the new year and demand is tepid on the back of weak buying activity in China said Fearnleys in its latest Weekly Report. Power plants in China have drawn about 20 million tons of coal inventories since the end of November which is a big reason for the slow market action. The market probably won’t liven up again until after the Chinese New Year.
 
Panamax
Commenting on Panamax, Fearnleys said, another disappointing week for ship owners, as the market continues down in both basins following the limited supply of fresh cargoes. 
 
A transatlantic round voyage now only pays high USD 4,000's, while a short front haul from the continent pays around USD 13,500 Fearnleys said. In the east, a Pacific round voyage yields about USD 6,700 per day, while a backhaul pays around USD 3,000. The market is down 186 points from last week, now at 893 points.
 
Supramax
The market remains under pressure across the Atlantic basin, with rates falling further down. 
 
Tonnage oversupply and limited demand on the cargo side are spreading negative sentiment. Owners resistance to face lower rate and charterers in no rush to fix, resulting in too many spot positions. The market shows no resistance due to the amount of tonnage building up. A transatlantic round voyage below USD 5,000 and front haul from USG to Far East around USD 14,000, it's about same level both from Continent / Bsea area to East.


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Recent News

Monday, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...


Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...


Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...


Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...


Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...


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