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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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Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
Tuesday, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
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- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- The University of Queensland
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Australian Coal Association
- Mercator Lines Limited - India
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