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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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Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
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- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
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