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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, 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
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 ...
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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- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
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