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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, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
Thursday, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
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- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
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