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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, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Singapore Mercantile Exchange
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
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