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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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Sunday, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
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- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
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