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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% to 1,446 points. Capesizes and Panamaxes have been the stars so far, with the Capesize market gaining 4.08% and the Panamax one returning to rising levels by an equally impressive 4.39%. Of course, one should take into account that traditionally this time of the year, the dry bulk market experiences its highest seasonal demand, which could help justify this week’s rise. But, on the other hand, oversupply issues haven’t just “magically” gone away and will keep on pressing the market and causing high rate volatility.
Yesterday, brokers and analysts alike were speculating that behind this week’s rise, is the potential decommissioning of some vessels.
“No owner’s going to continue doing business at $4,000 a day or $6,000, below operating costs,” said Hendrik Leusink, division executive for capesize and panama vessels at Island View Shipping SA, South Africa’s biggest commodities shipping line.
Quoted by Bloomberg he mentioned that “people will put ships into temporary lay-up or idle ships.” Operating costs for the vessels are between $7,500 and $8,000 a day, according to estimates from London-based Simpson Spence & Young, the world’s second-biggest shipbroker. Capesizes were below that level from April 11 to May 19.
In its latest weekly report, Fearnley’s mentioned that finally there were some good news for Capesize ship owners, even though rates in general are at a historic low and fundamentals have changed very little over the week. “Driven almost entirely by increased transatlantic coal trades and a steady volume on the Brazil/China iron ore run, average spot levels are up more than 50% to come in at close to USD 9k. Pacific is slow and eventless in comparison, though, with resultant levels for the WAust/China ore run only marginally up at USD 7.35 pmt which is still below opex. Expectations are there for this to last a little longer, thus more period fixing is expected - last done is 178kdwt/built 1998 done for 10-14 months at USD 10700/day basis delivery Qingdao mid June” said the report.
In the Panamax market, “after a slow start to the week, we saw more cargoes in the market on Tuesday with both coal from US and grains from ECSA. Especially the Pacific basin took a turn on Tuesday evening with chrts chasing prompt ships which were lacking. NoPac rounds were fixed at around 14k and still climbing, while the Atlantic rounds were fetching around USD 15k. Fronthauls hovering around USD 250k. It has been some short period activity this week with rates hovering around 13/14k. It was also rumored a kmax being fixed and failed for 3 years at a tick more than USD 14k” mentioned the shipbroker.
Finally, for the smaller ship types, “rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnage on ppt /beg of June positions. US Gulf to the Far East is slowly but surely firming further and more activity seen on transatlantic round voyage. ECSA is balanced with very little movement on rates. Outlook: stable. The Pacific market remains soft and owners unwilling to come in India due to lack of outbound cargoes. For Indo-India, Supras in North China are getting close to 12k. Nickel-ore rounds are getting firm rates in mid-high teens from Indonesia.
WCI-China rates slided to 15k and from ECI around 12k. 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 are now asking 15k. Short period deals done at mid-teens for large Supras” concluded Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
Thursday, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
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- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Minerals Council of Australia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
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