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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, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
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- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- The University of Queensland
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
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