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Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadily falling, trimming the gains achieved during the past couple of weeks. Yesterday, the BDI was down by 0.42% to 1,428 with Capesizes once again on the downside. The Baltic Capesize Index (BCI) fell by 1.89% to 1,767. By contrast, the only positive tone in the market at the moment is the Panamax segment, which recorded gains of 2.42% yesterday to 1,903 points. Brokers indicated that ship supply is still weighing down in the market, with each single event in terms of cargo supply, being enough to send rates on a falling pattern. Vale’s deployment of the first in many of the world’s largest carriers, the so called Very Large Ore Carriers (VLCOs), able to carry 400,000 tons, isn’t also helping the situation.
Earnings for panamaxes, which usually transport 60,000-70,000 tonne cargoes of coal or grains, have more than halved since the same period last year said Reuters in a story. Brokers said coal cargoes from Australia and Indonesia to China was providing some support, although gains were capped by slower grains activity out of South America. It went to mention that operators were watching for further signs that China's economy was slowing, given the dry freight market's dependence on Chinese imports, especially of coal and iron ore.
In its latest weekly report, shipbroker Fearnley’s said that the Capesize market “cold water is again coming out of the shower for owners as spot levels fall due to softening demand - average daily earnings down 10% w-o-w to come in at USD 10k. In Atlantic, fronthaul activity is cooling down, although rates not yet dramatically affected. The sudden lack of transatlantic trade is more felt, with a resultant drop of almost 30% to an estimated USD 10k/day.
Far East remains challenging and keeps hovering around OPEX levels – low USD 7k´s for rounds and uninspiring USD 7.50 pmt for the Dampier/Qingdao conference trade. As forward paper prices give no support at present, period activity has come to a halt after a handful of units were concluded for short and medium periods - exemplified by 174kdwt/blt 2006 done for 12 months at USD 11k and 169kdwt/blt 2009 done for 4-6 months at USD 10500, both basis prompt delivery in Far East” said the report.
In the Panamax market, “after a slow end to last week and even slower start to this week, the market improved on Tuesday in both hemispheres. The Atlantic saw several fresh cargoes fm USEC and ECSA, and in the Far East the upturn came due to fresh coal cargoes from Aussie and Indonesia to China. Now, at mid week, we are again at a crossroad with the players not sure where the market will be heading. We see some more interest in period deals now, and seems chrts feel the rates at ard USD 14k are interesting for twelve months. Atlantic rounds are getting fixed at ard USD 16k while front hauls are being fixed in the low/mid USD 20k´s. Pacific rounds are being fixed around 13.5/14k while the backhauls are getting fixed around USD 6k´s” said Fearnley’s.
As for the smaller ship types, the report mentioned that it’s been a fairly quiet market across the board with another flat week/stagnant rates in store. “Nevertheless, tonnage is thinning out in the Black Sea for the second half of June which might give some improvement on rates. Little activity on the Continent. USG remains stable on the back of regular petcoke exports. In the ECSA more cargoes are programmed for the second half of June thus look for better rates there in near future. The Pacific market is falling further with less activity. For Indo-India, Supras in North China are getting close to 10k. Nickel-ore rounds are getting firm rates in low-mid 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 now asking 14k. Period deals done at 14-15k for large Supras” concluded the report.
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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- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
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