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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, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - 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 ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
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- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- The University of Queensland
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- White Energy Company Limited
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
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