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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% to 1,446 points. Capesizes and Panamaxes have been the stars so far, with the Capesize market gaining 4.08% and the Panamax one returning to rising levels by an equally impressive 4.39%. Of course, one should take into account that traditionally this time of the year, the dry bulk market experiences its highest seasonal demand, which could help justify this week’s rise. But, on the other hand, oversupply issues haven’t just “magically” gone away and will keep on pressing the market and causing high rate volatility.
Yesterday, brokers and analysts alike were speculating that behind this week’s rise, is the potential decommissioning of some vessels.
“No owner’s going to continue doing business at $4,000 a day or $6,000, below operating costs,” said Hendrik Leusink, division executive for capesize and panama vessels at Island View Shipping SA, South Africa’s biggest commodities shipping line.
Quoted by Bloomberg he mentioned that “people will put ships into temporary lay-up or idle ships.” Operating costs for the vessels are between $7,500 and $8,000 a day, according to estimates from London-based Simpson Spence & Young, the world’s second-biggest shipbroker. Capesizes were below that level from April 11 to May 19.
In its latest weekly report, Fearnley’s mentioned that finally there were some good news for Capesize ship owners, even though rates in general are at a historic low and fundamentals have changed very little over the week. “Driven almost entirely by increased transatlantic coal trades and a steady volume on the Brazil/China iron ore run, average spot levels are up more than 50% to come in at close to USD 9k. Pacific is slow and eventless in comparison, though, with resultant levels for the WAust/China ore run only marginally up at USD 7.35 pmt which is still below opex. Expectations are there for this to last a little longer, thus more period fixing is expected - last done is 178kdwt/built 1998 done for 10-14 months at USD 10700/day basis delivery Qingdao mid June” said the report.
In the Panamax market, “after a slow start to the week, we saw more cargoes in the market on Tuesday with both coal from US and grains from ECSA. Especially the Pacific basin took a turn on Tuesday evening with chrts chasing prompt ships which were lacking. NoPac rounds were fixed at around 14k and still climbing, while the Atlantic rounds were fetching around USD 15k. Fronthauls hovering around USD 250k. It has been some short period activity this week with rates hovering around 13/14k. It was also rumored a kmax being fixed and failed for 3 years at a tick more than USD 14k” mentioned the shipbroker.
Finally, for the smaller ship types, “rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnage on ppt /beg of June positions. US Gulf to the Far East is slowly but surely firming further and more activity seen on transatlantic round voyage. ECSA is balanced with very little movement on rates. Outlook: stable. The Pacific market remains soft and owners unwilling to come in India due to lack of outbound cargoes. For Indo-India, Supras in North China are getting close to 12k. Nickel-ore rounds are getting firm rates in mid-high teens from Indonesia.
WCI-China rates slided to 15k and from ECI around 12k. 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 are now asking 15k. Short period deals done at mid-teens for large Supras” concluded Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...
Tuesday, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...
Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...
Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...
Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...
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- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Economic Council, Georgia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Planning Commission, India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
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