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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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Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
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