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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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Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
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