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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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Tuesday, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
Sunday, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
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- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- The University of Queensland
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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