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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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Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
Wednesday, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
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- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Australian Coal Association
- Dalmia Cement Bharat India
- Minerals Council of Australia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
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