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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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Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
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- Latin American Coal - Colombia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
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