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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, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
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