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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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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 ...
Thursday, 09 June 11
INDIKA AIMS TO PRODUCE 31 MILLION TONS OF COAL IN 2011 - THE JAKARTA POST
The Jakarta Post, a leading English news paper in Indonesia reported that, PT Indika Energy Tbk, an integrated energy company, is targeting to incre ...
Wednesday, 08 June 11
BAYAN TO DISTRIBUTE RP. 80 ( APPROX. US$ 0.00939850) PER SHARE DIVIDEND
Coal miner PT Bayan Resources Tbk (BYAN), that is controlled by business Dato' Low Tuck Kwong, will distribute Rp80 a share dividend or Rp266.7 bil ...
Wednesday, 08 June 11
CBM PRODUCTION FROM AUSTRALIA, CHINA, INDIA, AND INDONESIA IS EXPECTED TO WITNESS A SIGNIFICANT INCREASE BY 2015
Press Release - According to Global Data (December 2010), CBM production in Australia, China, India, and Indonesia is expected to witness a signific ...
Sunday, 05 June 11
COAL IMPORTS BY CHINA IS LIKELY TO INCREASE - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week except for the BDI and Cape index was up, but even in these sectors the momentum was compared t ...
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- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- The State Trading Corporation of India Ltd
- Australian Coal Association
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
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