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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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Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
Tuesday, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
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- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
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