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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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- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
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