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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, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
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- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- The University of Queensland
- Mjunction Services Limited - India
- Australian Coal Association
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
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