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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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Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
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- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
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