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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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- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
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