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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, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
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- McConnell Dowell - Australia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Australian Coal Association
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
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