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Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s benchmark, the Baltic Dry Index (BDI) was down by 0.18% to 1,130 points, down by just two points. The Capesize market was practically unchanged on the day, with a marginal increase of just 0.06% to 1,613 points. The smallest ship size, the Handysize market has kept on rising with the relative Baltic index, being up by 1.12% to 630 points. By contrast, the Panamax market was down by 1.23%, while the Supramax was once again on the downside, retreating by 0.36% to 1,105 points.
In a relative note, Commodore Research & Consultancy said that Chinese coal imports have set another record as the company’s analysts had predicted. “Preliminary data from the National Bureau of Statistics shows that China imported 23.9 million tons of coal in April. This is 2.5mt (12%) more than was imported in March and 12.8mt (115%) more than was imported in April 2011. China's previous monthly coal import record was 22.4mt imported in November 2011. Going forward, we continue to anticipate that Chinese coal imports will set additional records this year. For July, we expect coal exports will exceed 25mt. Overall, we remain very bullish regarding upcoming prospects for Chinese coal imports because regional thermal coal export prices remain very low and Chinese electricity demand continues to surge. The 411 billion kwh of electricity that China produced in March 2012 was only slightly below the record 426 billion kwh produced in August 2011. Chinese electricity production normally peaks by August of every year due to peak season summer demand. In the summer months ahead, we expect electricity production will continue to increase rapidly and will set several new records. Thermal coal will remain in great demand, and we continue to anticipate that coal imports will set a record by July” concluded Commodore Research & Consultancy.
In its weekly report, shipbroker Fearnleys commented on the Capesize segment, by mentioning that “little has changed this week in terms of the market levels. All the major miners have been in and out of the market with little movement in the freight rates. The Bubble in the Atlantic burst and the market has fallen back to the USD 8000 bracket, still a premium to the Pacific market. As rates have largely remained stable the recent fall in bunker prices has benefited the bottom line of owners (except the ones already well into a ballast leg) Period fixing has also been scarce but is apparently on subs but no details reported” mentioned Fearnleys.
Meanwhile, in the Handy side, “the market remained variable. Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get over USD 20k/day, whilst USG/FE was worth above USD 25k/day. Average of TC routes closed at USD 11502 today and was still USD 1500 higher than similar index for the Panamax tonnage. Pacific market has been weak and falling. For Indo-India, large eco Supra can fetch close to USD 10k + BB USD 150k bss APS Indo. Nickel ore cargoes are not seen in market anymore due to on-going Indonesian ban which has again taken away cargoes and putting pressure on market. Nopac also fixed under USD 10k dop Japan. Indian iron ore market remains quiet with less activity. WCI-China rates around USD 10k and ECI-China around USD 7k. Some ECI Supras have been ballasting to pick up Indo cargoes as well. RBCT rv fixed at APS USD 11k + BB USD 350k. Red Sea fertilisers to India fixed high teens. Not much activity on short period and rates around USD 11k for large Supra” said the shipbroker in its report.
Finally, on the Panamax front, it noted that “intoxicated by some areas being tight for tonnage, Owners predict an Atlantic market on the rise despite falling indices. Transatlantic rounds from 12-14k depending on position and direction. Some Chrtrs have had a fair challenge to cover fronthaul buiz where levels are around 18k via COGH. Overall the Western hemisphere seems fine tuned with a few fresh mineral requirements and so far limited volumes of June grain cargoes out of ECSA. Fair activity in the Pacific where Owners have been eager to cover a growing list of positions in a sliding 8000 dollar market mid-week. With reduced hopes for a recovery in European economy and a slowly falling forward curve, period interest is limited. Only Owners willing to give wide spreads or options could find period takers for efficient tonnage in the 10k area” concluded Fearnleys.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
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Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
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Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Planning Commission, India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
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