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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, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
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- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
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