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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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Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
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- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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