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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, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
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- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
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