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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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Thursday, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
Tuesday, 13 December 22
COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
Tuesday, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
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- Australian Coal Association
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
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