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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, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
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 ...
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- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- PTC India Limited - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
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