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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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Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
Wednesday, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
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- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Planning Commission, India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- VISA Power Limited - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
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