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Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session down by 2.03% to 1,253 points. As has been the established trend so far this week, the bigger ships have been taking the biggest toll, with Capesizes losing 3.24 percent on the day to just 1,345 points (Baltic Capesize Index), with daily rates still below break-even point, while the Panamaxes have also seen thin demand, with the Baltic Panamax Index retreating yesterday by 3.86% to 1,845 points, which is still way above the capesize segment, in yet another odd signs of the current times. On the positive side, Supramax owners have been enjoying the current robust demand for their carriers, with their rates up by 1.91% on the day.
Commenting on the Capesize market, Fearnley’s latest weekly report said yesterday that although there was a little more activity last week, this has slowed down and rates have fallen slightly. This combined with increased bunker prices result in even lower returns for owners. Despite an increasing number of vessels not trading the oversupply is still the major problem, and with new cyclones hitting major loading ports in East Australia the market becomes even more frustrated. Presently owners are willing to fix out their tonnage at usd 16000 per day for 12-month period, which is a considerable premium over the spot market, but these are new record low levels for this kind of fixture.
On the Panamax front it mentioned that “the positive trend from last week gradually faded out, lead by lack of fresh USG/ECSA grain requirements in the Atlantic, a sliding forward curve followed by a falling period market in the Pacific. Despite prompt vessels under pressure still some healthy numbers achieved in the Atlantic; typically 25000 + 500BB for Fronthaul and mid teens for transatlantic rounds. The Pacific saw rates coming off significantly to lower teens for Nopac rounds and a growing spread between spot- and period rates.
Charterers and operators are holding back and reducing their activity. Takers for longer periods clearly stand off as the forward curve test very low teens and most Owners still hope for a recovery to do high teens for same. On a positive note there is growing local enthusiasm with the commencement of the Nordic World ski championships in Oslo” said the shipbroker.
Meanwhile, the container market has yet to “recover” on the news of Maersk’s huge newbuilding order for 10 firm plus 20 optional 18,000 TEU container vessels. AP Møller has been in talks with DSME regarding the 18,000 TEU design for quite some time, and now finally confirmed. According to AP Møller, these vessels will burn 35% less fuel per container compared to the more standard 13,000 TEU container vessels operating today. In another report on the newbuilding market, Clarksons said that with the holidays now firmly behind us we continue to see the yards reporting new business being concluded. “As previously discussed, container enquiries in particular look to be the leading factor in generating this momentum as dry and wet remains relatively stagnant. With the container story continuing to press forward - this is ultimately inhibiting the shipyards willing to push pricing on other sectors and attempt to bridge the bid offer spread, that continues to stifle the potential for further volume.
In the short term, we don't anticipate this dynamic to change - and yards will want to exploit the shipbuilding demand that exists outside of dry and wet - and try to extend their forward orderbook coverage and take the pressure off themselves to yield to what is a weaker demand story so far. In terms of reported business; In Dry, Hanjin Shipping have contracted a pair of 180,000dwt Capesize bulk carriers at Daehan, these are scheduled for delivery in 2012 and the reported price for these is USD58.5 Mill per vessel. In China meanwhile, it has been reported that Shanhaiguan have won an order from Greathorse Shipping Holdings for 4 option 4 x 76,000dwt panamax bulkers, with the firm vessels due to deliver in 2H 2012 and 1Q 2013. It is understood that these vessels may have been signed at the end of last year and are only fully coming to light now” said Clarksons.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
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- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Parliament of New Zealand
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
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