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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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Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
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- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- PTC India Limited - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- The University of Queensland
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
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