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