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Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 points, down by 0.97 percent. The main losing segment was the Panamax one with falls of 2.28 percent, while the Capesize market was on the upside, gaining 0.68 percent. As it turns out, for the time being, the disaster in Japan and especially the danger of radiation has hit trade activity, limiting cargoes to and from Japan. The country is a strong importer of dry bulk commodities, such as coal and iron ore.
In a weekly report, shipbroker Fearnley’s said that activity in the Capesize sector is up, but the same has yet to be reflected in rate levels as this segment remains generally overtonnaged. “The main WAust/China ore trade is erratic in volume but stable in value at usd 7.35-45 pmt - equivalent to less than opex. Nuclear concerns have given some support to Atlantic coal activity/expectations, with resultant transatlantic levels maintained at some usd 12250 and fronthaul also unchanged at around usd 23350. With an inverted forward curve, period activity is limited to 180kdwt/blt 2009 spot Feast done for 12 mos at usd 16k, 177kdwt/blt 2004 China ppt done for 4-6 mos at usd 15500 and 174kdwt/blt 2007 said to be done for 2 yrs at around usd 17500” said Fearnley’s.
Regarding the falling Panamax market, it mentioned that “with few fresh cargoes entering the market, the rates declined marginally this week. TA´s fixed in average around USD 16k, which is a tick down from last week. South America and coal from US kept the market going. In the Pacific the rates hovered around USD 16500. However rumors stated that Japan would increase their coal import, due to lack of nuclear energy. The ballasters from the Pacific and Indian Ocean obtained decent numbers, around USD 16-17k daily, which was in line with the short period market” said the report.
As for the smaller handy segment, “the Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm paying in the mid 20´s for trips into the Med and low/mid 30´s for trips FE. Outlook: stable. The Pacific market is still weak; the signs of weakening are lack of fresh enquiries and less trading activities. Indian activities are also very slow. Supras on WC India are seeing high teens for trip to China with freight levels hovering between usd 20 pmt. Supras ex Richards bay coal terminal/India hovering at usd 25/27.00 pmt. Ex Red Sea to India handymax tonnages are seeing mid/high 20´s” concluded the shipbroker.
While things look a bit dim at the moment, there’s hope that Japan’s massive reconstruction process will boost prospects of the dry bulk freight market in the medium and long term. Japan may increase imports of Australian iron ore and of logs and lumber from New Zealand and Malaysia after the March 11 tsunami devastated buildings in the Tohoku region. Following the Kobe quake in 1995, the Baltic Dry Index, the benchmark for commodity-shipping rates, surged 20 percent in three months after initially falling 6 percent in three weeks said Bloomberg in a report. At the same time, dry bulk rates could get a modest boost as Japanese power plants restock coal inventories and steel companies import more iron ore to rebuild damaged output, analysts said.
For the time being though, fears of an ever increasing oversupplied market seem to be materializing, with rates still depressed. Just this week, China COSCO Holdings Co Ltd., the country’s top shipping conglomerate, said it saw huge challenges in the dry bulk market and urged companies "not to be quick to order new ships". Nevertheless, it added that rates could rise later this year.
Source: Nikos Roussanoglou, Hellenic Shippping
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Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
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- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- The University of Queensland
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- ASAPP Information Group - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
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