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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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Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
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- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
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