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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, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
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- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Minerals Council of Australia
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
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