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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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Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
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- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Australian Coal Association
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
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