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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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- Attock Cement Pakistan Limited
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
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