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Friday, 03 June 11
DRY BULK MARKETS RESURGENCE APPEARS TO BE LOSING SOME STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market’s seems to be losing some steam, despite reports of growing Chinese demand for commodities, especially coal, on the back of growing power shortages. Yesterday, the BDI (Baltic Dry Index) managed to edge a bit higher by 0.27% to 1,489, with the Capesize market being the only one able to post daily gains. The Capesize Index was 1.15% higher to 1,934 points, but the Panamax segment was lower by 0.77%.
In a relative weekly report, Fearnley’s said that last week´s enthusiasm in the Capesize market has continued into this week, and the results are apparent in the rates owners are achieving. “West Australia up from usd 7.35 pmt to usd 7.75 pmt. And the strength in the Atlantic continued, with fixtures done this week at USD 13k p/d for round voyages, up from USD 12k. The transatlantic market has helped the Brazil /China trade, which has struggled to move upwards due to too many committed ballasters, and rates are now at usd 20.50 pmt, up from usd 19.75 pmt on Friday, as vessels open in the Atlantic are preferring to fix better numbers on the Atlantic RV route. On the period front there has been a few fixtures concluded for shorter period at healthier numbers such as USD 11250 for 4-6 months on a 178k dwt modern unit” said the shipbroker.
Regarding the Panamax market, Fearnley’s said that “after last week’s rush to cover prompt cargoes on the remaining spot ships with increasing rates, the market took a breather this week. The activity has been slower, and the curves have been pointing downwards in both hemispheres. Ascension day in several European countries on Thursday will probably not help on the activity, but mid week we see signs of more cargoes entering the market for mid/second half June. This will most likely affect owners´ rates, and push the market a bit up again in the Atlantic. Today the Tarv´s getting fixed in the region of 15,500 while fronthauls are being fixed in the low 20´s. In the Pacific the rounds are being fixed ard 13k while the backhauls are fetching around 6k. The period market has been somewhat more active this week with short periods being fixed with Feast delivery at ard USD 15,500” said the report.
Finally, the Handy/Supra market has in general been flat and un-exciting this week. “The Black Sea market is almost non existing while the US Gulf market is more active with grain and petcoke cargoes. Tarv´s are fecthing ard Usd 15, 500 while the South Atlantic is holding stable with rates hovering ard mid 20 ´s for trips back to the Feast. The Pacific market remains quiet. For Indo-India, Supras in North China are getting close to 11k. Nickel-ore rounds are getting firm rates in mid-high teens from Indonesia. WCI-China rates slided to 13k 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 14k. Short period deals done at 14-15k for large Supras” concluded the shipbroker’s report.
In a separate note, Commodore Research & Consultancy discussed the current power shortage issues that China faces and the fact that the government is now actively focusing more on constructing bases along the Yangtze River, Beijing-Hangzhou Grand Canal, and the coast.
“The Yangtze River, China's largest river, flows west-to-east from Qinghai province (located in western China) to Shanghai; the Beijing-Hangzhou Grand Canal stretches north-to-south from Beijing to the city of Hangzhou (located in Zhejiang province). Of strategic importance will be the city of Zhenjiang (located in Jiangsu province; please note the city of Zhenjiang is spelled similarly to Zhejiang province but the two are entirely unrelated).
The city of Zhenjiang will hold great strategic importance as a coal base because it is located on both the Yangtze River and the Beijing-Hangzhou Grand Canal. Additional coal bases will be set up along the river, canal, and China’s east coast. While there is no firm date for operation or exact estimate as to how much coal Zhenjiang and other coal bases will hold, early reports suggest that bases on the Yangtze River, the Beijing-Hangzhou Grand Canal, and the coast will hold as much as a total of 200 million tons of coal. We stress that plans have just been initiated, however, and it will be years before the bases are set up. In related news, the government recently announced that the Yangtze River will be further dredged to allow vessels with a carrying-capacity of up to 50,000 tons to be able to travel from Shanghai all the way to Nanjing (located in Jiangsu province) by 2015. We expect that the coal bases will be operational around this time as well.
China consumes roughly 3.5 billion tons of coal per year, however, so we stress that more than anything, these coal bases will eventually be used to ease inland transportation constraints when problems arise from transporting domestic coal from the western and central part of the country to end-users on the east coast Coal imports should be viewed in a similar fashion, as they make up only a fraction of the total amount of coal consumed in China every year. Surges in imports normally occur when demand is strong, port stockpiles are low, and when inland coal transportation constraints occur” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
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 ...
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- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
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