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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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Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
Friday, 22 February 19
AUSTRALIAN HIGH CV THERMAL COAL PRICES AT 19-MONTH LOW, BUT NOT FOR LONG - WOOD MACKENZIE
The benchmark Newcastle high energy thermal coal price has fallen from US$100/tonne at the turn of the new year to US$88/tonne. Thermal coal has be ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
Tuesday, 19 February 19
AUSTRALIA'S COAL FUTURE UNDER THREAT AS MORE CHANGES HIT FOSSIL FUELS GLOBALLY - ABC
Two disparate decisions from opposite corners of the world have sounded warnings for the future of Australia’s coal industry.
...
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- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- PTC India Limited - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Australian Coal Association
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
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