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Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session up by 1.05% to 1,443 points. The Capesize Index has inched higher, gaining 1.63% on Wednesday to reach 2,116 points, managing to stay clear ahead of the Panamax sector. Panamaxes were also higher by 2.01% with the relative Panamax Index now standing at 1,626 points. Up until a couple of weeks ago, Panamaxes were ahead of their larger Capesize counterparts, in a paradox of the latest circumstances prevailing in the dry bulk market for months.
In a latest update on the Capesize resurgence, US-based analyst Commodore Research & Consultancy said that approximately 108 dry bulk vessels were delivered in May, a significant increase from 71 vessels delivered in April. May saw the delivery of 29 handysize vessels, 36 handymax vessels, 22 panamax vessels, and 21 capesize vessels. In comparison, April saw the delivery of 14 handysize vessels, 20 handymax vessels, 20 panamax vessels, and 31 capesize vessels.
“Approximately 35 vessels were demolished in May, a small increase from 27 vessels demolished in April. May saw the demolition of 11 handysize vessels, 4 handymax vessels, 8 panamax vessels, and 12 capesize vessels. In comparison, April saw the demolition of 11 handysize vessels, 5 handymax vessels, 6 panamax vessels, and 5 capesize vessels.
The capesize market fared the best in May, registering a net addition of only 9 vessels (in comparison, April saw a net addition of 26 Capes). This is partially why Cape rates have been able to find support since the second half of May. The 12 Capes that were scrapped in May were the largest amount of Capes scrapped in a single month this year. In comparison, January to April saw an average of 6 Capes scrapped per month. May’s small net addition, combined with an increase in iron ore and coal demand seen throughout much of June, has helped average Cape rates rise from approximately $5,500/day at the middle of May to almost $14,000/day” said Commodore in its report.
In its latest weekly analysis of the dry bulk market, Fearnley’s said, referring to the Capesize segment, that “as most players were expecting a summer quiet market, the opposite is happening. West Australia/China route is stronger, in spite of only one of the big three appears to be active. Although little information in the market appears about last done levels, it seems mid 8s is the going level for this route. For Tubarao/Qingdao we see more activity as well, and bid/offer is presently usd 20,50/21.00 bss Tub/Qingdao. Short period is steady, with expectations for some further improvement, bid/offers for short period usd 12,000/12,500 dly” said the shipbroker.
In the Panamax segment, “despite recent signs of life in the Cape market, and spot levels on Panamax turning positive mid week, the sentiment in the Panamax market suffers from an underlying weak tone. Charterers are holding back and activity overall is limited. In the Atlantic prompt positions has been cleared out and rates are slowly climbing in mid teens. Grain orders still appear from ECSA, and runs to the Far East holding at 25 + 500 for ballasters or 22-23k bss Med positions. Owners are still suffering in the eastern hemisphere by lack of fresh requirements from both Aussie and NOPAC. Low volumes on coal with just a few Indonesian rounds still there, and short term expectations for coal is not encouraging. Pacific levels not at five figures yet. The FFA market is hovering around 12-13k for the next 12-18 months, maintaining similar levels for short/medium period where activity also is limited” said Fearnley’s.
Finally, on the Handy sector, it’s been “a quiet market with low activity for Supramax in the Atlantic this week, in particular for Cont/Med positions. NCSA-USG spot/prompt loaders also struggling to find employment. Ballasters from Indian Ocean adding pressure to the South Atlantic resulting in an overall negative trend.
The Pacific market is quiet. For Indo-India, Supras in south China are getting close to 11k. Nickel-ore rounds are getting firm rates in low-mid teens. Very quiet on iron ore front due to monsoons as WCI-China rates slided to 10k and from ECI around 9k.
Few Indian tonnage seen ballasting to Indonesia and RBCT. As a result, RBCT biz fixed on APS at around 20k. Red Sea, ferts on handymax/Supras are fixed at very mid 20´s pmt on voy bss to WC India. Period deals done at 14-15k for large Supras” concluded Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
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