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Monday, 08 July 19
ULTRAMAX: A 52,000-TONNER OPEN CJK FIXED FOR A TRIP VIA INDONESIA WITH RE-DELIVERY CHINA AT $6,100 - BALTIC BRIEFING
.jpg) Capesize
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw a week on week lift of $7,084 to settle at $26,444. As usual, this volatile rise was initially Atlantic Basin lead. Black Sea iron ore fronthaul cargoes supplied the sparking tinder, which took a toll on the already sparse Atlantic tonnage supply. Higher transatlantic rates ensued. The Brazil to China C3 route supplied a timely and healthy amount of cargoes to aggravate the tonnage imbalance. The Pacific Basin showed more of a steady hand in gains early in the week before going full in on Thursday, with an action packed day of fixing. This was particularly evident on the West Australia to China C5 route late into the Singaporean evening. C5 opened the week at $7.205 to close at $9.159. The slightly backward forward curve on the derivatives market is a telling sign of the markets uncertainty in this lift being sustainable. However, for now, the Atlantic remains very tight on tonnage.
Panamax
Most of the excitement emanated from the Atlantic again last week. The continued lack of early tonnage had a profound effect on rates, with transatlantic rates jumping by more than $5,000 and the weighted average up by around $3,000. A Panamax fixed from the Continent for a trip via Murmansk to Jorf Lasfar at $22,000, leading many to complain the index remained under-marked. Fronthaul trades from the North Atlantic also increased, adding fuel to the fire. However, at the end of the week several vessels reportedly failed on Black Sea cargoes. The Pacific market rose steadily throughout the week buoyed by the skyrocketing Atlantic market. Several vessels fixed for US Gulf rounds, again at a premium to Pacific rounds, which improved to very high $12,000s for well described Kamsarmaxes. This was despite a seemingly plentiful tonnage supply. Several period fixtures were reported due to increased paper values, with many of the ships taken basis Atlantic delivery due to the rising spot prices.
Supramax/Ultramax
It was a stronger week again for the Baltic Supramax Index (BSI), mainly due to increased pressure from key areas within the Atlantic. Period activity remained, a 52,000dwt ship, open East Mediterranean, fixing in the upper $11,000s for two to four months trading. Key areas of interest were the US Gulf and Mediterranean, which saw jumps throughout the week. An Ultramax covered a trip to the Continent at around $20,000, while a 58,000dwt vessel fixed at $22,500 for a grain’s run to Japan with delivery Houston. Likewise, from the Mediterranean a lack of fresh tonnage saw an Ultramax being fixed in the $13,000s delivery West Coast India trip via Black Sea redelivery Southeast Asia. From Asia, it was a different story, with a lack of fresh enquiry from the north. A 52,000-tonner open CJK fixed for a trip via Indonesia with redelivery China at $6,100. Backhauls from the area to the Mediterranean were being concluded in the low $3,000s and a split rate.
Handysize
The Baltic Handysize Index (BHSI) had a minor decline when the week first started, but soon returned to positive territory, the US Gulf and East Coast South America lending support. More period fixtures were reported from the area, with large handysize vessels fixing in the mid $12,000s from Santos. Mid-sized vessels were fixing in the high $10,000s, basis Recalada, both for three to five months with redelivery within the Atlantic. A 33,000dwt ship open in the US Gulf mid-July was fixed for two to three laden legs redelivery Atlantic at $10,500. Brokers suggested East Coast South America firmed, with more demand to West Coast South America in particular. Fixtures were reportedly done from $15,000 to $17,000 depending on the size of the ship and the load/discharge. From North Brazil, a 32,000dwt vessel was fixed to the Mediterranean at $10,500. From the US Gulf, a 39,000-tonner was booked for a petcoke stem to Lebanon at $16,000. Rates remained soft in the East. A trip from South Korea to Southeast Asia paid $6,000 and low $5,000s on a small handysize from Malaysia for a quick trip to the Philippines.
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Thursday, 05 March 20
SEABORNE COAL'S STRUGGLES IN ASIA ARE MORE THAN JUST CHINA CORONAVIRUS - REUTERS
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
Thursday, 05 March 20
INDONESIA'S BUKIT ASAM 2019 OUTPUT RISES 10.2% Y/Y - REUTERS
PT Bukit Asam, Indonesia’s state-owned coal miner, said on Wednesday its output in 2019 rose 10.2% to 29.1 million tonnes.
Coa ...
Thursday, 05 March 20
SEEING REMOTELY - IN SAFETY: BUREAU VERITAS PERFORMS FIRST SURVEY BY DRONE - BUREAU VERITAS
Bureau Veritas Marine & Offshore (BV), a world leader in testing, inspection and certification (TIC) services has completed its first survey by ...
Wednesday, 04 March 20
AN EPIDEMIC OF UNCERTAINTY - THE CORONAVIRUS AND FORCE MAJEURE - WFW
KNOWLEDGE TO ELEVATE
Do the effects of the coronavirus give rise to legitimate force majeure claims in connection with shipbuilding contracts ...
Wednesday, 04 March 20
CHINA IMPORTED 76.8 MLN TONNES OF CRUDE OIL FOR JANUARY & FEBRUARY 2020; UP 3.4% YOY - REFINITIV | BC
The COVID-19 crisis has been gripping China already for almost two months now. It’s having a huge negative impact on the economy, and this is ...
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- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
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