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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, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- PTC India Limited - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Malabar Cements Ltd - India
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