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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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Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Planning Commission, India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
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