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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, 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 ...
Thursday, 09 June 11
INDIKA AIMS TO PRODUCE 31 MILLION TONS OF COAL IN 2011 - THE JAKARTA POST
The Jakarta Post, a leading English news paper in Indonesia reported that, PT Indika Energy Tbk, an integrated energy company, is targeting to incre ...
Wednesday, 08 June 11
BAYAN TO DISTRIBUTE RP. 80 ( APPROX. US$ 0.00939850) PER SHARE DIVIDEND
Coal miner PT Bayan Resources Tbk (BYAN), that is controlled by business Dato' Low Tuck Kwong, will distribute Rp80 a share dividend or Rp266.7 bil ...
Wednesday, 08 June 11
CBM PRODUCTION FROM AUSTRALIA, CHINA, INDIA, AND INDONESIA IS EXPECTED TO WITNESS A SIGNIFICANT INCREASE BY 2015
Press Release - According to Global Data (December 2010), CBM production in Australia, China, India, and Indonesia is expected to witness a signific ...
Sunday, 05 June 11
COAL IMPORTS BY CHINA IS LIKELY TO INCREASE - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week except for the BDI and Cape index was up, but even in these sectors the momentum was compared t ...
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- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Aditya Birla Group - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Australian Coal Association
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
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