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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, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
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- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Planning Commission, India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- White Energy Company Limited
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
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