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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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Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
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- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
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