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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, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
Wednesday, 29 June 11
ANOTHER STRONG PERFORMANCE BY CAPESIZE - BRS
Another strong performance by the Capesize market this week, bringing the BCI up 8% to 1,974 points. However the Panamax market was penalised, losin ...
Monday, 27 June 11
THE IRON ORE IMPORTS BY CHINA SEEMED TO SLOW DOWN - VISTAAR
COALspot.com - The BDI was holding as previous week and was just up by 1 point and closed at 1424 points end of last week. The biggest gain was ...
Friday, 24 June 11
THE INDONESIAN GOVERNMENT WILL NOT EXTEND ALL EXPIRED MINING CONTRACTS - JAKARTA UPDATES
The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the ...
Friday, 24 June 11
BERAU EYEING 70 PERCENT GROWTH IN EBITDA
Indonesia's coal producer PT Berau Coal Energy Tbk (BRAU) is eyeing a 60 -70 percent growth in EBITDA to US$ 560 million-US$595 million this year. ...
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- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- PTC India Limited - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
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