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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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Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
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- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Australian Coal Association
- Ministry of Transport, Egypt
- Planning Commission, India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
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