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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, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
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- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- PTC India Limited - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Planning Commission, India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Parliament of New Zealand
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
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