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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, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
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- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- The University of Queensland
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
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