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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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Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
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- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
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