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Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and New Year break, the Pacific market saw two active miners, contributing to a somewhat optimistic sentiment initially. However, reports of a derailment in Western Australia introduced an element of uncertainty, leading to a decline initially of approximately $1.00-$1.20 on C5 at the beginning of the week. The Atlantic market also faced challenges, with a tightening tonnage list and a widening gap between bid and offer prices. Despite heightened activity in the Pacific on Thursday, the market pressure resulted in a further decline on C5, although there was a feeling that the market was starting to find a floor. This appears to be the case with two miners today having to increase their bid to attract offers, resulting in a slight uptick of approximately 30 cents today C5 as the week draws to a close. In the Atlantic, vessel tightness persisted, particularly for tonnage reaching south Brazil within January dates. Limited activity was observed for the first half of the week, but the prevailing tight conditions, coupled with an increase in activity towards the end of the week, resulting in positive reports of stronger fixtures, has maintained a bullish, yet positional, sentiment in the market. Overall, the BCI 5TC has been positive this week, which started at $28,896 and has closed today at $31,497.
Panamax
Following the Christmas holiday, the Panamax market began sedately across the board, followed by rates coming under pressure from the outset. Downward pressure emanated primarily from a build-up of tonnage, unfixed over the festive period but also from a lack of demand in both basins all week, forcing cheaper levels to be conceded by owners. Following a softer finish to 2023, higher ballaster count from Southeast Asia only compounded to the weaker market. And, with Asia massively unsupported, the immediate outlook appeared extremely bearish; $13,000 was agreed on an 82,000-dwt delivery China for a NoPac round trip but such rate unrepeatable come the end of the week. From the Atlantic, $24,000 was agreed on an 85,000-dwt delivery NW Africa for a long duration trip via US Gulf into the Arabian Gulf with routing via Cape of Good Hope. Some recent period coverage emerged with reports of an 82,000-dwt delivery China achieving $16,250 for one year’s period.
Ultramax/Supramax
Not surprisingly it was a rather muted start to the New Year after the widespread holidays. The Atlantic remained rather sluggish in the South with limited fresh enquiry appearing and a good amount of prompt tonnage available. As the week progressed, some saw slightly better levels of enquiry from the US Gulf although limited fixing appeared. From Asia, brokers suggested that there was little fresh activity from the NoPac and Australia although there seemed to be a reasonable amount of activity from the South. There was little period action although a 63,000 open China was heard fixed for four to six months trading redelivery Singapore-Japan at $17,000 with scrubber benefit for charterers. From the Atlantic, a 63,000-dwt was heard fixed delivery US Gulf trip redelivery East Mediterranean at $26,000. In Asia, a 56,000-dwt fixed delivery Philippines trip via Indonesia redelivery South China at $12,000. From the Indian Ocean, rates remained fairly healthy, a 64,000-dwt fixing delivery Navalakhi trip via Oman redelivery Chittagong at $20,000.
Handysize
After recent holidays, the Atlantic market witnessed large corrections on BHSI this week, with cargo availability limited across the region. On the continent, a 32,000-dwt was fixed basis delivery in Rouen for a trip to Morocco with grains at $11,000, whilst in the Mediterranean a 35,000-dwt fixed from Safi to EC South America at $7,000 and a 38,000-dwt was rumoured to have fixed from Alexandria to Bilbao with an intended cargo of steels at $11,000. The US Gulf also saw reductions as a 39,000-dwt was rumoured to have been fixed from SW Pass to the Black Sea with grains in the low $20,000’s. In the South Atlantic, a 37,000-dwt fixed from Santos to Morocco with a cargo of sugar at $20,000, whilst a 43,000-dwt fixed from Recalada to Venezuela with a cargo of grains at $22,000. Asia was more balanced with an unknown handy fixing from China via Indonesia for a round trip at $9,200 but further information was limited.
Source: Baltic Exchange
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Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
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- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
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