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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, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- The University of Queensland
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Planning Commission, India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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