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Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, the BDI (Baltic Dry Index) ended yesterday down by 0.26% to 1,152 points, but still 24,5% higher than the previous month, on the back of the recent recovery. The latter was fuelled by the Panamax segment and the start of the grain season in Latin America, which helped the dry bulk market retrieve most of the part lost since the start of the year, when the market experienced a near record collapse, as a result of too many new ships entering the global fleet. Yesterday, the Capesize market was practically unchanged to 1,495 points, up by 1 point on the day. The same applied to the Supramax, as well as the Handysize segments, which were also up by just 1 point to 1,099 and 601 respectively. The only losing part of the market was the Panamax with a fall of 20 points to 1,693 points.
In its latest weekly report, shipbroker Fearnleys commented on the Capesize market by mentioning that " the Cape market has continued to be depressed. The Pacific is weaker and rates from Western Australia have fallen to USD 7.40 from about USD 7.60 + last week. The front haul market has also fallen to about USD 20.70. The only bright spot is the US coal that has become competitive in the Chinese market and several sales have been concluded with tonnage ballasting from the Far East. This is due to the continued lack of tonnage in the Atlantic, with the few ships that are open preferring to continue to trade within the Atlantic. Short period has also been quiet with only a couple of fixtures done at a suggested level of USD 12k per day, which is still a significant premium to the spot market" said Fearnleys in its report.
Meanwhile, on the Panamax market, it mentioned that " the Panamax market has experienced a major upturn the last couple of weeks. This trend has now stopped, and it might only be short lived correction until rates will keep on firming. The trend has been driven mainly by coal cargos with India and China being the 2 major buyers of same. We believe this will continue for a while as the prices for US coal are historically low for the Chinese. India announced that they would need to import about 15 million mt more coal, and this will again tie up tonnage and make the Atlantic more tight. Tarvs are now fixing around USD 16k while the Fhauls are being concluded at a strong 22/23k per day. In the Pacific, rounds are being fixed at around USD 11-11.5k. The short period market has seen some deals being concluded at around 11.5/11.8k for Pacific delivery" said the report.
Finally, on the Handy markets, Fearnleys noted that "stable demand in the Atlantic offered good rates for the tonnage. USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to be nice places as well and paid FE destinations in excess of USD 18k/day for Black Sea/Aden able vessels and over USD 16k daily for Baltic carriers. Short period in the Atlantic stayed almost unchanged at USD 15/16k levels. Pacific market has softened due to on-going holidays and extended weekend in FEast. For Indo-India, large eco Supra can fetch close to USD 8k bss N.China. Nickel ore cargoes are seen fixed at USD 10k dely N.China.
Nopac also fixed around USD 9k dop Japan. Indian iron ore market remains quiet with less activity on WCI & ECI. WCI-China rates around USD 11k and ECI-China around USD 7k. Some ECI Supras have been ballasting to pick up Indo cargoes as well. RBCT rv fixed at APS USD 11k + BB USD 350k. Red Sea fertilisers to India are fixed high teens. Not much activity on short period and rates around USD 12k for large Supra" it concluded.
In terms of newbuilding business reported, it's worth noting that 8 firm ships reported this week, 6 of them LPG carriers. "There seems to be a positive consensus in the relative quite sector of LPG newbuildings. Pricewise, it seems the market is moving sideways with no big surprises. Although yards are searching high and low for new business, they remain steady at current price levels" stated Fearnleys.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
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- CNBM International Corporation - China
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- White Energy Company Limited
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- PTC India Limited - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
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