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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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Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
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- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- White Energy Company Limited
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Economic Council, Georgia
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