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Friday, 22 April 11
DRY BULK MARKET KEEPS FALLING, NOW AT TWO-MONTH LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market seems unable at the moment to recover from the weight of newbuilding deliveries, resulting in too many ships competing for fewer cargoes. The industry’s benchmark, the Baltic Dry Index (BDI) fell to 1,254 points prior to Easter holidays, down by 0.63%, now standing at new lows. The Capesize market was lull remaining unchanged, with the biggest losses occurred in the Panamax segment, which retreated by 2.69%.
According to a weekly report from Shiptrade Services, “the Capesize market saw some good levels of fixing as demand grew this week in the Pacific for voyages from W. Australia to the Far East. As a result we saw some gains on Pacific RV which appear marginal as a result of the continuous overcapacity which is affecting the market. The Atlantic remains significantly subdued with the tonnage list ever increasing as ballasting vessels to the Atlantic have put more pressure on the market and have increased the congestion in South American ports.
The Panamax market showed some promise in the beginning of the week with a few fresh cargoes entering the market. However the effect was that due to the ample abundance of tonnage these cargoes were covered quickly and tonnage in the Pacific started to pile up further. Moreover in view of the upcoming Easter holiday it is unlikely that the situation will improve. Owners in the Atlantic have tried their best to resist the pressure but with such high levels of competition rates have unavoidably softened.
The Supramax market has faced another sliding week. In the Atlantic owners have tried to hold back however this does not seem to be sustainable with very limited business in the region. Rates in the Pacific are showing a sliding direction since demand has been thin and the region is still heavily constrained by the excess supply of vessels. There was no hope for fixtures out of India either this week, with an obvious drop in iron ore cargoes coupled with the effects of higher taxation on exports.
The Handysize market is the only one which managed to keep fairly stable this week. Rates across the board have even been showing slight gains. That is not to say however that there is a definite positive market direction. In ECSA we saw a positive note with a few more enquiries appearing for fronthaul trips” said the shipbroker’s report.
It went on to say that according to data from the Chinese Iron & Steel Association (CISA), the national daily crude steel production during March remained at positive levels, up by 4.6 %. Preliminary data from Chinese customs show an increase of Iron Ore imports by 22% in February. Australia on the other hand, according to the North Queensland Port Authority, shows a recovery in March shipments from Hay Point and Dalrymple Bay despite the latest severe flooding. The US Department of Commerce released its latest data showing a 52% year on year increase for US seaborne coal imports, which is the highest level seen since March 1992. Furthermore it seems that Japan became the largest single destination of US coal exports in February with 1.3 Million tons being imported against the 2.9 mill tons imported in total last year. In general the exports from US to the total Asia-Pacific region rose to 54% during February.
The latest world economic outlook from the IMF shows unchanged forecasts of 4.4 % for the world economic growth, although it continues to expect 9,6% economic expansion for China and it has lowered its estimates about India to 8.2% and the Middle east and North Africa to 4,1%. US Department of Agriculture has increased its estimates and now expects that world grain trade will total 269.57 million tons, increased by approximately 1.2 million tons than what was originally expected, this increase is occurred primarily due to raised expectations for wheat exports.
Regarding the S&P Market it seems that Tanker deals continue developing lately in spite of the low rates. M/T “Rainbow River“(107.160 dwt, Built Koyo Japan 1999) was reported sold to Greek buyers for USD 24 mill, following the one month earlier sale of the two years older M/T “Kythira” (107.176 dwt, Built Koyo 1997) to Indian Buyers for USD 21 mill.On the dry side we have seen a few Panamaxes changing hands lately. The M/V “Rondeau” (77.031 dwt, Built Namura Japan 2006, 9 HO / 9 HA) sold for USD 33 mill to Japanese Buyers, following the previous months’ sale of the one year older M/V “Mineral star” (76.285 dwt, Built Tsuneishi Japan 2005) for USD 32 mill. The M/V “Grand Sky” (75.752 dwt, Built Sanoyas Japan 1998) for USD 20 Mill via auctionand the sale of the 3 years older M/V “New Arising” (71.695 dwt, Built Hitachi Japan 1995) for USD 18.9 mill to Greek Buyers are some of the Panamaxes reported to have been sold during the last week.
Regarding inquiries the interest from the markets in the Far East is showing an increase of approximately 20%. The Greek market has shown a slight decrease in purchase interest by about 9%, while the European and other markets remain stable.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
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- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- The University of Queensland
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
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