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Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffering the main losses. The Baltic Capesize Index (BPI) was down by 1.51% yesterday, ending the session at 3,268 points. By contrast, the Panamax segment fared much better, rising by 1.02% to reach 1,681 points.
According to the latest weekly report from shipbroker Fearnley’s, “a psychological barrier seems to kick in every time spot levels for the capesize segment climb close to usd 30k. A robust strengthening on high volume is turning into a soft slide as activity cools down and nervousness spread. Despite last few days´ developments, average daily earnings are still up 12% w-o-w at usd 28k, and fundamental parametres still appear robust for transatlantic and pacific trades. Period activity has been fair on the back of paper support - most recently exemplified by 2 x 206kdwt newcastlemax NBs delivering Feb+April 2012 for about 4 years to major energy producers at usd 18k, 175kdwt/built 2010 delivering Japan early Oct done for 4-6 months at usd 19k and also 176kdwt/built 2010 delivering N.China early Oct for 4-6 months at usd 18k” said Fearnley’s.
In a separate report, commenting on the Capesize market, Piraeus-based shipbroker Shiptrade Services said that “the Atlantic market was relatively active, especially for prompt positions. Rates increased significantly, and at week’s closing fixtures reported at USD 33.000 per day Transatlantic round, while on the Front haul trade, fixtures reported at USD 50.000 per day. On the Tubarao/Qingdao trade, levels followed the same trend, and eventually concluded at USD 27.00pmt. Activity in the Pacific basin was even stronger than in the Atlantic. Cargo volume increased as new cargoes emerged from S.Africa, and India, but rates for pacific round voyage remained at same levels, i.e USD 24.000 per day. On the Australia/China trade, the iron ore majors covered about 15 vessels at levels close to USD 11.50pmt” said Shiptrade.
Meanwhile, according to Fearnley’s “the Panamax market started this week on a quiet note with only USG fronthaul giving some fuel to the levels. In the Atlantic the market is firming up, tighter with tonnage and some fresh minerals and grains requirements entering the market. TA rounds are now fetching ard usd 14,500 while some claim to have seen usd 16k for the shorter Baltic rounds. The fronthauls closer to mid 20´s with additional premium for shorter trips via Aden. In the Pacific activity is slowing down in all areas. Some analysts warn that China ´s emergency coal reserve provision is too small, and they might pick up the pase they had earlier on Indonesian coal. Mid week the Pac rounds are being fixed at ard usd 11k while the backhauls are getting ard usd 4,500. The period market has shown some activity with a few short period fixtures in the mid 12k range. With the coming holidays in China activity and levels could suffer next week” mentioned the shipbroker.
Shiptrade’s comment on the Panamax market was that there were not many fresh enquiries, combined with prompt tonnage building up, and rates sliding. “In the Atlantic basin we saw plenty of fixtures but rates didn’t manage to increase, as there were not so many fresh enquiries, especially for Transatlantic round. At week’s closing, rates for Transatlantic round concluded at USD 14.000 per day, while on the Front haul trade rates declined at USD 24.000 per day, with the majority of cargoes coming from USG. Pacific remained a bit quiet with not many enquiries in the market, and many prompt vessels looking for suitable cargoes. Rates declined, and at week’s closing, rates for Pacific round concluded around USD 11.000 – 11.500per day basis N.China delivery, or close to USD 13.000per day basis S.China – S.E.Asia delivery. Rates for trips Ex NOPAC concluded at levels around USD 10.500 – 11.500per day basis N.china/Japan range for BPI type vessel (M/V Eleftheria 76.134/01’), concluded Shiptrade.
Yesterday, Commodore Research & Consultancy issued an update on the state of coal stockpiles at the port of Qinhuangdao, China’s largest coal port, which have come under a large amount of pressure as we have anticipated. “At present, stockpiles stand at approximately 5.1 million tons, 2.2mt (-30%) less than at the start of the month. The stockpiles have come under a large amount of pressure as maintenance to China’s coal dedicated Daqin Railway (which stretches from coal-rich western China to Qinhuangdao) has coincided with robust demand for thermal coal and electricity On Tuesday September 20th, coal stockpiles at Qinhuangdao stood about 7.1mt. Maintenance to the Daqin Railway, which began on Wednesday September 21st, has resulted in the line being down for approximately 3 hours each day. The 12-day period of maintenance is scheduled to end on Monday October 3rd. Going forward, we expect that the Daqin Railway will transport 30-33mt of coal in September, which would be moderately lower than the 36.94mt of coal that was transported in August. We anticipate Qinhuangdao coal stockpiles will remain below 7mt during at least the next two weeks, which is likely to lead to a continued increase in Chinese thermal coal fixtures (Chinese thermal coal fixtures have already begun to increase this week). Regional thermal coal import prices also remain very attractive compared with Chinese domestic thermal coal prices” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
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- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
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