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Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session down by 2.03% to 1,253 points. As has been the established trend so far this week, the bigger ships have been taking the biggest toll, with Capesizes losing 3.24 percent on the day to just 1,345 points (Baltic Capesize Index), with daily rates still below break-even point, while the Panamaxes have also seen thin demand, with the Baltic Panamax Index retreating yesterday by 3.86% to 1,845 points, which is still way above the capesize segment, in yet another odd signs of the current times. On the positive side, Supramax owners have been enjoying the current robust demand for their carriers, with their rates up by 1.91% on the day.
Commenting on the Capesize market, Fearnley’s latest weekly report said yesterday that although there was a little more activity last week, this has slowed down and rates have fallen slightly. This combined with increased bunker prices result in even lower returns for owners. Despite an increasing number of vessels not trading the oversupply is still the major problem, and with new cyclones hitting major loading ports in East Australia the market becomes even more frustrated. Presently owners are willing to fix out their tonnage at usd 16000 per day for 12-month period, which is a considerable premium over the spot market, but these are new record low levels for this kind of fixture.
On the Panamax front it mentioned that “the positive trend from last week gradually faded out, lead by lack of fresh USG/ECSA grain requirements in the Atlantic, a sliding forward curve followed by a falling period market in the Pacific. Despite prompt vessels under pressure still some healthy numbers achieved in the Atlantic; typically 25000 + 500BB for Fronthaul and mid teens for transatlantic rounds. The Pacific saw rates coming off significantly to lower teens for Nopac rounds and a growing spread between spot- and period rates.
Charterers and operators are holding back and reducing their activity. Takers for longer periods clearly stand off as the forward curve test very low teens and most Owners still hope for a recovery to do high teens for same. On a positive note there is growing local enthusiasm with the commencement of the Nordic World ski championships in Oslo” said the shipbroker.
Meanwhile, the container market has yet to “recover” on the news of Maersk’s huge newbuilding order for 10 firm plus 20 optional 18,000 TEU container vessels. AP Møller has been in talks with DSME regarding the 18,000 TEU design for quite some time, and now finally confirmed. According to AP Møller, these vessels will burn 35% less fuel per container compared to the more standard 13,000 TEU container vessels operating today. In another report on the newbuilding market, Clarksons said that with the holidays now firmly behind us we continue to see the yards reporting new business being concluded. “As previously discussed, container enquiries in particular look to be the leading factor in generating this momentum as dry and wet remains relatively stagnant. With the container story continuing to press forward - this is ultimately inhibiting the shipyards willing to push pricing on other sectors and attempt to bridge the bid offer spread, that continues to stifle the potential for further volume.
In the short term, we don't anticipate this dynamic to change - and yards will want to exploit the shipbuilding demand that exists outside of dry and wet - and try to extend their forward orderbook coverage and take the pressure off themselves to yield to what is a weaker demand story so far. In terms of reported business; In Dry, Hanjin Shipping have contracted a pair of 180,000dwt Capesize bulk carriers at Daehan, these are scheduled for delivery in 2012 and the reported price for these is USD58.5 Mill per vessel. In China meanwhile, it has been reported that Shanhaiguan have won an order from Greathorse Shipping Holdings for 4 option 4 x 76,000dwt panamax bulkers, with the firm vessels due to deliver in 2H 2012 and 1Q 2013. It is understood that these vessels may have been signed at the end of last year and are only fully coming to light now” said Clarksons.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
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