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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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Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
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- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
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