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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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Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
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- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- MS Steel International - UAE
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
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