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Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pattern, falling yesterday for a seventh straight session. The BDI is now down to 1,271 points, again as a result of the suffering from huge oversupply panamax market segment. The relative Panamax Index was down by 4% yesterday to 1,597 points, the Capesize market was practically unchanged, to 1,459, still lagging against its half in size counterpart. On a more resilient tone, the Supramax market was up by six points to reach 1,399 points.
Average daily rates for panamaxes now stand at $12,806, while for Capesizes they stand at just $5,688. Supramaxes command a daily average of $14,625, while handysizes earn $11,679 on average. According to Erik Nikolai Stavseth, an analyst with Arctic Securities ASA in Oslo, who was quoted by Bloomberg, the decline may continue in the panamax front. He said that they expected a further weakening in the panamax market as reports indicate a high number of vessels available. According to the analyst, power shortages in China and low coal inventories will most certainly boost coal imports, but again they won’t be enough to lift rates.
Commenting on the panamax market, Fearnley’s said in its latest weekly report that “another relatively slow week, still shoving some activity from EC South America, but some fix and failures as market clearly is in a downward trend. Rates nudged up to the mid USD 25k daily range and around USD 500k bonus on the run to the eastern hemisphere. For Transtlantic business the pressure on the Continent for prompt tonnage seems to ease and rates on average around the 13k mark. Rates in the Far East also heading south with spot-prompt ships struggling to find cover from any fresh orders as rates descend closer to the 10k level. Period business very limited and the forward market now rating the next 18 months just under USD 12k/day. Other segments not adding any support or fuelling a bearish sentiment” said the report.
As for the Capesize market, it mentioned that “during the past week, two more 12-month period deals have been done at a lower USD 11500. Even as new lows are reached the volume is thin. The recent fall in bunker prices has not come to the owners benefit, but rather to the charterers. Rates across the board have fallen during the last 7 days and today the weakest market is the in the Atlantic. With the present spot market charterers are also struggling to make sense of taking short period vessels as it is difficult to recover the premium vis-a-vis the spot market” said Fearnley’s.
Finally, on the Handy/Supramax markets: “The Atlantic is marked by volatility and very positional, nevertheless USG, NCSA, Cont remain strong thanks to the petcoke, grains and scrap but the flooding in the Mississippi could have a negative effect on the market. The S.Atlantic is a bit more active and seeing more and more tonnage ballasting from Med. The Bl.Sea is difficult for Supras. Trips to Feast are at 20k+400k levels.
Outlook: Steady. Pacific market remains quiet. For Indo-India, Supras in N.China gets close to 13k. Nickel-ore rounds get firm rates in high teens from Indonesia. Also many owns prefer to do now Indo coal or nickel ore to China rather than going to India owing to monsoons. WCI-China rates slided to 15k and from ECI around 13k, but few ships seen ballasting to Indo as not much cargoes ex-ECI. Red Sea, ferts on handymax/Supras are fixed at very mid 20´s pmt on voyage basis to WC India. Large Supras for RBCT/India round now asking 15k. Short period deals done at mid-teens for large Supras” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
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- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- PTC India Limited - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Planning Commission, India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
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