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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 panamaxes continue to trade at levels lower than their smaller counterparts, i.e. supramaxes and handies. In a complete paradox, earnings for handymaxes have reached double levels, compared to capesizes. At the same time, South American grain fixtures continue to float at firm levels, whereas the Chinese iron ore fixtures have shown some signs of minor increase not enough to balance with the oversupply in the capesize and panamax segment.
According to Commodore Research, about 81 million tons of iron ore is currently stockpiled at Chinese ports, an increase of 1.4 m tons (2%) from a week ago. Stockpiles have remained at near record levels since the end of January. There is anticipation for an increase in Chinese thermal coal fixtures till the end of May that will provide assistance to struggling capesize, panamax and supramax rates. Chinese thermal coal fixtures have already begun to increase due to low coal stockpiles and the approach of Northern Hemisphere peak season summer demand. However, domestic coal prices are still relatively low compared with international coal that impedes further a record of activity from previous year levels.
In a report from Golden Destiny, it is noted that Australian coal production continues to recover from the severe flooding seen at the end of last year, but there will still be periods of heavy rain in the coal rich eastern part of the nation. Weather conditions are expected to be much improved in Australia’s iron ore rich western region. As vessels’ deliveries surge, capesize and panamax freight markets will experience sporadic freight markets. Moreover, seaborne supplies of iron ore are unlikely to rise substantially for now even India’s Karnataka state has already lifted the ban on April 20th, due to monsoon period looming next month.
“After many weeks of constant fall, the BDI has finally showed small gains the last two days by closing at 1,269 points, up by 15 points (1%) from the end of previous week and down by 28% from the end of 2010, while at similar week in 2010 the BDI was 3,354 points. Capesizes are currently earning $ 6,698/day, an increase of $151/day (2%) from a week ago. Panamaxes are earning $11,620/day, an increase of $596/day (5%) from a week ago. Supramaxes are earning $14,530/day, a decline of $115/day and handysizes $11,897/day, a decline of $88/day respectively from a week ago” said the shipbroker.
In terms of the Greek presence in the new building and second hand markets, it was reported that while they are quite active in the first segment, they are equally inactive in the second. For instance, in the secondhand market, one panamax bulk carrier of 72,493 dwt built 1998 reported to have gone to Greek hands at a price region $20,2 mil. In the newbuilding market, DryShips, Safe Management Overseas and Atlantis Management have invested in the bulk carrier segment, placing two units in the capesize segment, one in the kamsarmax and one in the handysize segment respectively. Moreover, in the tanker segment European Navigation has placed an order for two suezmax shuttle tankers at price believed to be more than $100 mil each. in the newbuilding market, the total amount of money invested this week by the Greeks is estimated to be more than $300 million.
“In terms of S&P activity, the week ended with 44 sales reported in the secondhand and demolition market posting a 12% negative w-o-w change. The highest activity has been recorded for the last two weeks in the newbuilding market with more than 120 new contracts worldwide. Overall, in the secondhand market, 26 vessels reported to have changed hands this week equalling a total amount of money invested in the region of US$ 362.18 million.
In terms of the reported number of transactions, the S&P activity has been marked with a 18% negative w-o-w change, while is down by 7% comparable with previous year’s weekly S&P activity when 28 vessels induced buyers’ interest with bulk carriers grasping 25% share and tankers 53% of the total volume of S&P activity. In terms of invested capital, the most overweight sector for this week is the bulk carrier segment grasping 58% of the total amount of money invested with mostly handymax and panamax units of all ages being on the frontline” said the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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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
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 ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
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- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Australian Coal Association
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- White Energy Company Limited
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
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