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Friday, 03 June 11
DRY BULK MARKETS RESURGENCE APPEARS TO BE LOSING SOME STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market’s seems to be losing some steam, despite reports of growing Chinese demand for commodities, especially coal, on the back of growing power shortages. Yesterday, the BDI (Baltic Dry Index) managed to edge a bit higher by 0.27% to 1,489, with the Capesize market being the only one able to post daily gains. The Capesize Index was 1.15% higher to 1,934 points, but the Panamax segment was lower by 0.77%.
In a relative weekly report, Fearnley’s said that last week´s enthusiasm in the Capesize market has continued into this week, and the results are apparent in the rates owners are achieving. “West Australia up from usd 7.35 pmt to usd 7.75 pmt. And the strength in the Atlantic continued, with fixtures done this week at USD 13k p/d for round voyages, up from USD 12k. The transatlantic market has helped the Brazil /China trade, which has struggled to move upwards due to too many committed ballasters, and rates are now at usd 20.50 pmt, up from usd 19.75 pmt on Friday, as vessels open in the Atlantic are preferring to fix better numbers on the Atlantic RV route. On the period front there has been a few fixtures concluded for shorter period at healthier numbers such as USD 11250 for 4-6 months on a 178k dwt modern unit” said the shipbroker.
Regarding the Panamax market, Fearnley’s said that “after last week’s rush to cover prompt cargoes on the remaining spot ships with increasing rates, the market took a breather this week. The activity has been slower, and the curves have been pointing downwards in both hemispheres. Ascension day in several European countries on Thursday will probably not help on the activity, but mid week we see signs of more cargoes entering the market for mid/second half June. This will most likely affect owners´ rates, and push the market a bit up again in the Atlantic. Today the Tarv´s getting fixed in the region of 15,500 while fronthauls are being fixed in the low 20´s. In the Pacific the rounds are being fixed ard 13k while the backhauls are fetching around 6k. The period market has been somewhat more active this week with short periods being fixed with Feast delivery at ard USD 15,500” said the report.
Finally, the Handy/Supra market has in general been flat and un-exciting this week. “The Black Sea market is almost non existing while the US Gulf market is more active with grain and petcoke cargoes. Tarv´s are fecthing ard Usd 15, 500 while the South Atlantic is holding stable with rates hovering ard mid 20 ´s for trips back to the Feast. The Pacific market remains quiet. For Indo-India, Supras in North China are getting close to 11k. Nickel-ore rounds are getting firm rates in mid-high teens from Indonesia. WCI-China rates slided to 13k 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 14k. Short period deals done at 14-15k for large Supras” concluded the shipbroker’s report.
In a separate note, Commodore Research & Consultancy discussed the current power shortage issues that China faces and the fact that the government is now actively focusing more on constructing bases along the Yangtze River, Beijing-Hangzhou Grand Canal, and the coast.
“The Yangtze River, China's largest river, flows west-to-east from Qinghai province (located in western China) to Shanghai; the Beijing-Hangzhou Grand Canal stretches north-to-south from Beijing to the city of Hangzhou (located in Zhejiang province). Of strategic importance will be the city of Zhenjiang (located in Jiangsu province; please note the city of Zhenjiang is spelled similarly to Zhejiang province but the two are entirely unrelated).
The city of Zhenjiang will hold great strategic importance as a coal base because it is located on both the Yangtze River and the Beijing-Hangzhou Grand Canal. Additional coal bases will be set up along the river, canal, and China’s east coast. While there is no firm date for operation or exact estimate as to how much coal Zhenjiang and other coal bases will hold, early reports suggest that bases on the Yangtze River, the Beijing-Hangzhou Grand Canal, and the coast will hold as much as a total of 200 million tons of coal. We stress that plans have just been initiated, however, and it will be years before the bases are set up. In related news, the government recently announced that the Yangtze River will be further dredged to allow vessels with a carrying-capacity of up to 50,000 tons to be able to travel from Shanghai all the way to Nanjing (located in Jiangsu province) by 2015. We expect that the coal bases will be operational around this time as well.
China consumes roughly 3.5 billion tons of coal per year, however, so we stress that more than anything, these coal bases will eventually be used to ease inland transportation constraints when problems arise from transporting domestic coal from the western and central part of the country to end-users on the east coast Coal imports should be viewed in a similar fashion, as they make up only a fraction of the total amount of coal consumed in China every year. Surges in imports normally occur when demand is strong, port stockpiles are low, and when inland coal transportation constraints occur” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
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- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- The University of Queensland
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
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