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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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Tuesday, 26 April 11
NTPC CALLS TENDER FOR 4 MLN TON OF NON-COKING COAL
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, is the largest thermal power gener ...
Monday, 25 April 11
THE FUTURES FOR THREE YEARS WAS AT AROUND PANAMAX/US$ 14,000 PER DAY & SUPRAMAX/US$ 14,000 PER DAY - VISTAAR
COALspot.com - The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 points. ...
Saturday, 23 April 11
GUPTA COAL TO BAG ONE MILLION TONS OF COAL SUPPLY ORDER FROM KPCL AT AROUND US$ 127.53 PMT
COALspot.com - Karnataka Power Corporation (KPCL), a state utility of Karnataka, India has secured its one million tons of thermal coal with c ...
Saturday, 23 April 11
STRAITS ASIA SETS 11.5 MIO TONS OUTPUT - INSIDER STORIES
Insider Stories reported that, Singapore-listed Straits Asia Resources Limited plans to jack up its coal output target of 8.5% to 11.5 million tons ...
Friday, 22 April 11
DRY BULK MARKET KEEPS FALLING, NOW AT TWO-MONTH LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems unable at the moment to recover from the weight of newbuilding deliveries, resulting in too many ships competing for fewer ...
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- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- CNBM International Corporation - China
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
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