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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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Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
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- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
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