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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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Thursday, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- Minerals Council of Australia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Australian Coal Association
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
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