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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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Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
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- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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