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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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Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
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% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
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- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Latin American Coal - Colombia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Australian Coal Association
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
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