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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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Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
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- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Australian Coal Association
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- The University of Queensland
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
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