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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 steadily falling, trimming the gains achieved during the past couple of weeks. Yesterday, the BDI was down by 0.42% to 1,428 with Capesizes once again on the downside. The Baltic Capesize Index (BCI) fell by 1.89% to 1,767. By contrast, the only positive tone in the market at the moment is the Panamax segment, which recorded gains of 2.42% yesterday to 1,903 points. Brokers indicated that ship supply is still weighing down in the market, with each single event in terms of cargo supply, being enough to send rates on a falling pattern. Vale’s deployment of the first in many of the world’s largest carriers, the so called Very Large Ore Carriers (VLCOs), able to carry 400,000 tons, isn’t also helping the situation.
Earnings for panamaxes, which usually transport 60,000-70,000 tonne cargoes of coal or grains, have more than halved since the same period last year said Reuters in a story. Brokers said coal cargoes from Australia and Indonesia to China was providing some support, although gains were capped by slower grains activity out of South America. It went to mention that operators were watching for further signs that China's economy was slowing, given the dry freight market's dependence on Chinese imports, especially of coal and iron ore.
In its latest weekly report, shipbroker Fearnley’s said that the Capesize market “cold water is again coming out of the shower for owners as spot levels fall due to softening demand - average daily earnings down 10% w-o-w to come in at USD 10k. In Atlantic, fronthaul activity is cooling down, although rates not yet dramatically affected. The sudden lack of transatlantic trade is more felt, with a resultant drop of almost 30% to an estimated USD 10k/day.
Far East remains challenging and keeps hovering around OPEX levels – low USD 7k´s for rounds and uninspiring USD 7.50 pmt for the Dampier/Qingdao conference trade. As forward paper prices give no support at present, period activity has come to a halt after a handful of units were concluded for short and medium periods - exemplified by 174kdwt/blt 2006 done for 12 months at USD 11k and 169kdwt/blt 2009 done for 4-6 months at USD 10500, both basis prompt delivery in Far East” said the report.
In the Panamax market, “after a slow end to last week and even slower start to this week, the market improved on Tuesday in both hemispheres. The Atlantic saw several fresh cargoes fm USEC and ECSA, and in the Far East the upturn came due to fresh coal cargoes from Aussie and Indonesia to China. Now, at mid week, we are again at a crossroad with the players not sure where the market will be heading. We see some more interest in period deals now, and seems chrts feel the rates at ard USD 14k are interesting for twelve months. Atlantic rounds are getting fixed at ard USD 16k while front hauls are being fixed in the low/mid USD 20k´s. Pacific rounds are being fixed around 13.5/14k while the backhauls are getting fixed around USD 6k´s” said Fearnley’s.
As for the smaller ship types, the report mentioned that it’s been a fairly quiet market across the board with another flat week/stagnant rates in store. “Nevertheless, tonnage is thinning out in the Black Sea for the second half of June which might give some improvement on rates. Little activity on the Continent. USG remains stable on the back of regular petcoke exports. In the ECSA more cargoes are programmed for the second half of June thus look for better rates there in near future. The Pacific market is falling further with less activity. For Indo-India, Supras in North China are getting close to 10k. Nickel-ore rounds are getting firm rates in low-mid 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 now asking 14k. Period deals done at 14-15k for large Supras” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
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