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Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 percent and ending the session down to 1,498 points, or about half of where it stood a year back.
The biggest losses were recorded in the panamax front, which lost 1.87%, while the Capesize market was also down by 0.73 percent. Last week, the BDI closed at 1,520 points, with Capesize still earning just $10,554/day, while the smaller in size Panamax ship types were averaging a substantilly higher $15,463 on a daily basis. The even smaller Supramaxes have proven more resilient, earning their owners a daily average of $15,795.
According to the latest weekly report from BRS (Barry Rogliano Salles), there was a general slide in rates this week, with the Panamax and Supramax markets affected by a slowdown in South American grain exports. Meanwhile the previous week’s re-appearance of Japan in the market did not have much of an impact this week and the Cape market came off slightly. In the iron ore market, China’s efforts to control more of the ore trade are starting to take effect with the China Mining Association claiming the country will manage 200m tons in overseas ore by 2014, up from 110m tons this year. The Association also predicted domestic iron ore production will grow between 6% and 8% this year, up from 1.07bn tons of iron ore in 2010 (itself a near 22% increase on 2009). Confirming the trend to extend its reach overseas, this week Wuhan Steel confirmed it would begin mining ore at its Liberian Bong mine in 2012. Initial capacity will launch at 1m tons/year, though the company has plans to expand it to 10m tons/year.
“Activity levels were relatively high in the Cape market this week, but again the sheer number of vessels available for hire kept rates at the same level. We have now seen 80 Capesizes of 13.5m dwt (ships >83,000 dwt) delivered in the first three months of 2011, compared to 60 vessels of 10.9m dwt in the equivalent period in 2010. Friday-to-Friday the BCI fell 13 points to 1792, while the four time charter average finished the week at US$10,554. In the period market, levels also remained stable, with an 180,000 tonner fixed at US$16,000 per day for 11-13 months trading, delivery ex yard in China” said the report from the Paris-based shipbroker.
As for the Panamax markets, the Far East area was quiet and the few spot coal cargoes out of Indo and Australia were mainly fixed under contract. In the Indian Ocean, iron ore exports slowed down too and Panamax tonnage was fixed from WCI to China at US$15 pmt, down from US$16 pmt a week ago. This weaker market pushed many ships to ballast into the ECSA basin, pushing down this market and the TA round lost more than US$1,000 to close at around US$15,000 per day. We noted however that some quick TA rounds were fixed at well below those levels. The short period market logically eased too by more than US$1,000, and BPI index vessels are now getting between US$15,000 and US$16,000/day.
In terms of S&P activity, the week ended with 27 sales reported in the secondhand and demolition market posting a 42.5% negative w-o-w change with buying sentiment being centered again both on bulkcarriers and tankers said a separate report from Golden Destiny. The highest activity has been recorded in the secondhand market, while the newbuilding market these last two weeks remains on low levels.
“In the secondhand market, 20 vessels reported to have changed hands this week equalling a total amount of money invested in the region of US$ 280,95 million, however six of the reported deals were at undisclosed prices. In terms of reported number of transactions, the S&P activity has been marked with a 20% negative w-o-w change, while is down by 37.5% comparable with previous year’s weekly S&P activity when 32 vessels induced buyers’ interest with bulk carriers again grasping 31.25% share of the total volume of S&P activity. In terms of invested capital, the tanker sector continues to appears to be the most overweight representing almost 80% of the total invested capital this week.
In the demolition market, it was a quiet week with just 7 vessels reported to have been headed to the scrap yards of total deadweight 261,467 tons. In terms of reported number of transactions, the Demolition activity has been marked with a 68 % negative w-o-w change, while in terms of deadweight the weekly negative change was around 40%. In terms of scrap rates, the highest scrap rate has been achieved this week by India for a general cargo vessel that seems to obtained $ 483/ldt, with Bangladesh being again out of the market since the situation still remains uncertain.
The Greek presence this week was noticeable both in the secondhand and the newbuilding sector. In the secondhand market 2 transactions appeared in the frontline, one in the Capesize sector and one in the VLCC sector, both from well-known players of the industry, while in the newbuilding sector the investments were centred in the bulkcarrier, gas tanker and once again container sector. The total invested capital remains unknown since no prices have been
revealed for the majority of the transactions” concluded Golden Destiny’s report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
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- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Planning Commission, India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
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