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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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Thursday, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Minerals Council of Australia
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