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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, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
Pan Asia Corporation Limited has, via Innovation West Pty Ltd, entered into a binding coal purchase & finance agreement with Noble Resources Pte ...
Monday, 23 August 10
THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
COALspot.com: The BDI continued to rise this week by 11.67 pct with the other sectors also keeping the moment. The cape size index also was up by 11 ...
Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
ASEAN Federation of Mining Association (AFMA), an association of mining groups in Southeast Asia, will hold the 9th Asia Pacific Mining Conference a ...
Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has ...
Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
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- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Parliament of New Zealand
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
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