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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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Friday, 30 March 18
SHIPPING INDUSTRY CONFIDENCE HITS FOUR-YEAR HIGH - MOORE STEPHENS
Shipping Confidence Survey
In February 2018, the average confidence level expressed by respondents was up from 6.2 in November 2017 t ...
Friday, 30 March 18
EXPLAINING POLAND'S COAL PARADOX - FORBES
In the U.S. coal is succumbing to market forces despite the Trump Administration’s push to support the industry. Abundant, cheap and cleaner ...
Friday, 30 March 18
THIESS SECURES $140M MT OWEN INCREASE
Thiess has secured a A$140 million increase to its contract with Glencore for coal mining services at Mt Owen in the Hunter Valley, Australia. Mt O ...
Wednesday, 28 March 18
THIESS WINS $280M WAHANA EXTENSION
Thiess has been awarded a three-year $280 million contract extension at the Wahana coal mine in South Kalimantan, Indonesia.
According to Thie ...
Wednesday, 28 March 18
RIO TINTO TO SELL KESTREL MINE FOR $2.25 BILLION - REUTERS
Rio Tinto sold its remaining coal asset Kestrel in Australia to private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk for $2.25 ...
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- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- The University of Queensland
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
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