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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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Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
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- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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