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Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pattern, falling yesterday for a seventh straight session. The BDI is now down to 1,271 points, again as a result of the suffering from huge oversupply panamax market segment. The relative Panamax Index was down by 4% yesterday to 1,597 points, the Capesize market was practically unchanged, to 1,459, still lagging against its half in size counterpart. On a more resilient tone, the Supramax market was up by six points to reach 1,399 points.
Average daily rates for panamaxes now stand at $12,806, while for Capesizes they stand at just $5,688. Supramaxes command a daily average of $14,625, while handysizes earn $11,679 on average. According to Erik Nikolai Stavseth, an analyst with Arctic Securities ASA in Oslo, who was quoted by Bloomberg, the decline may continue in the panamax front. He said that they expected a further weakening in the panamax market as reports indicate a high number of vessels available. According to the analyst, power shortages in China and low coal inventories will most certainly boost coal imports, but again they won’t be enough to lift rates.
Commenting on the panamax market, Fearnley’s said in its latest weekly report that “another relatively slow week, still shoving some activity from EC South America, but some fix and failures as market clearly is in a downward trend. Rates nudged up to the mid USD 25k daily range and around USD 500k bonus on the run to the eastern hemisphere. For Transtlantic business the pressure on the Continent for prompt tonnage seems to ease and rates on average around the 13k mark. Rates in the Far East also heading south with spot-prompt ships struggling to find cover from any fresh orders as rates descend closer to the 10k level. Period business very limited and the forward market now rating the next 18 months just under USD 12k/day. Other segments not adding any support or fuelling a bearish sentiment” said the report.
As for the Capesize market, it mentioned that “during the past week, two more 12-month period deals have been done at a lower USD 11500. Even as new lows are reached the volume is thin. The recent fall in bunker prices has not come to the owners benefit, but rather to the charterers. Rates across the board have fallen during the last 7 days and today the weakest market is the in the Atlantic. With the present spot market charterers are also struggling to make sense of taking short period vessels as it is difficult to recover the premium vis-a-vis the spot market” said Fearnley’s.
Finally, on the Handy/Supramax markets: “The Atlantic is marked by volatility and very positional, nevertheless USG, NCSA, Cont remain strong thanks to the petcoke, grains and scrap but the flooding in the Mississippi could have a negative effect on the market. The S.Atlantic is a bit more active and seeing more and more tonnage ballasting from Med. The Bl.Sea is difficult for Supras. Trips to Feast are at 20k+400k levels.
Outlook: Steady. Pacific market remains quiet. For Indo-India, Supras in N.China gets close to 13k. Nickel-ore rounds get firm rates in high teens from Indonesia. Also many owns prefer to do now Indo coal or nickel ore to China rather than going to India owing to monsoons. WCI-China rates slided to 15k and from ECI around 13k, but few ships seen ballasting to Indo as not much cargoes ex-ECI. Red Sea, ferts on handymax/Supras are fixed at very mid 20´s pmt on voyage basis to WC India. Large Supras for RBCT/India round now asking 15k. Short period deals done at mid-teens for large Supras” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
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- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- PTC India Limited - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
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