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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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Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
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- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Planning Commission, India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- The University of Queensland
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
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