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Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterday to end the session down to 1,309 points, a daily slump of 1.13%. On the positive side, the Capesize market stopped tis fall, to end the session marginally higher at 0.19 percent to 1,573 points. At the same time, the constant fall of the panamax sector finally led rates lower than Capesizes. Since the beginning of the year, Panamaxes had been the top earners of the dry bulk market, in a sector’s paradox that tended to become the norm. Yesterday, the panamax segment lost further ground to end down by 2.40 percent.
In its latest weekly report, Fearnley’s said that the Panamax market continued its downward trend this week. It was some mixed views beginning week when more fresh cargoes entered the market - but this was quickly absorbed by the overwhelming supply of available ships. “The rates in both hemispheres are slowly declining and we do not see any fundamental upcoming events in the near future which will have any positive effect to the rates. Next week is Easter Holidays in most European countries and we believe this also will affect the already slow market. For Continent positions doing Fhauls the rates are in the low 20´s region. Tarv´s paying low teens while in the Pacific the rounds are fetching very low 10´s. The period market has been somewhat none existing lately with only a few fixtures reported at around 15k lvl for short/medium periods” it mentioned.
As for the Capesize market, it said that the segment is heading for another low, as newbuildings continue to pour out of yards. “Spot demand is fair, despite recent natural disasters, but simply not sufficient to fully employ a growing fleet. Pacific rounds, although not covering operating expenses, are stable at just over usd 6k/day – the reference trade WAust/China hovering in the dismal usd 7.50-75 pmt interval. Atlantic has taken a further blow, with levels for the Cont-Brazil-China fronthaul trade dropping 10% w-o-w to come in at usd 20k/day, TA rates softening by a full 35% to usd 6250/day. A few key players still book period tonnage, at levels reflecting the presently inverted forward curve more than the current spot bloodbath 180kdwt newbuilding done ex yard prompt for 11-13 months at usd 15k/day, 180kdwt/built 2010 fixed prompt for 4-6 months at usd 12500” said the shipbroker.
Regarding the smaller ship types, “the Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pays very low 20´s for petcoke runs into the EMed/EMed. Short period dely in Atl on Supramax 53kdwt stands at usd 18500 with worldwide redelivery. TA rounds are being traded in the high teens. Pacific market very quiet as Chrtrs holding back their requirements and allowing tonnage to build up. Supras in N.China get close to 12k for trips via Indo to India. Iron ore from India expected to pick up with increased cargoes and buying interest from China thereby rates remain firm around 17k WCI/China and from ECI around 15k, but few ships seen ballasting to Indo as not much cargoes ex ECI. On Rich.Bay rounds Supras see around 15k basis WCI dely. Red Sea; ferts on Hmax/Supras are fixed at very mid-high 20´s pmt on voy bss to WCI. Not too much activity on short period as market bit volatile and speculative and hear index type vsl fixed at mid-teens” concluded the report.
Meanwhile, it’s worth mentioning the latest developments regarding India’s iron ore export plans. As it turns out, the Karnataka state government is challenging the Supreme Court's decision to lift the iron ore export ban. In a note, Jeffrey Landsberg from Commodore Research & Analysis, said that, Karnataka's Chief Minister B S Yeddyurappa held on a conference stating that Karnataka will file an appeal with the Supreme Court. “According to Mr. Yeddyurappa, illegal mining and transportation of iron ore is still running rampant throughout the state and in all of India. His statement's echo similar findings from the Central Empowered Committee and Lokayukta that Commodore has published in recent reports. We will continue to monitor this development closely and will publish additional updates when more information surfaces. For now, the export ban remains set to be officially lifted on April 20. A significant increase in Indian iron ore fixtures has not yet occurred however. Only 4 Indian iron ore fixtures surfaced in the market last week, 1 less than the previous week and on par with the trailing four week average” said Landsberg.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
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- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
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