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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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Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
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- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
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