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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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Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
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- Romanian Commodities Exchange
- Indika Energy - Indonesia
- White Energy Company Limited
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Economic Council, Georgia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
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