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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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Tuesday, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
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- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
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