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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, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
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- GMR Energy Limited - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
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