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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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Sunday, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- White Energy Company Limited
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
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