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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, 09 June 11
INDIKA AIMS TO PRODUCE 31 MILLION TONS OF COAL IN 2011 - THE JAKARTA POST
The Jakarta Post, a leading English news paper in Indonesia reported that, PT Indika Energy Tbk, an integrated energy company, is targeting to incre ...
Wednesday, 08 June 11
BAYAN TO DISTRIBUTE RP. 80 ( APPROX. US$ 0.00939850) PER SHARE DIVIDEND
Coal miner PT Bayan Resources Tbk (BYAN), that is controlled by business Dato' Low Tuck Kwong, will distribute Rp80 a share dividend or Rp266.7 bil ...
Wednesday, 08 June 11
CBM PRODUCTION FROM AUSTRALIA, CHINA, INDIA, AND INDONESIA IS EXPECTED TO WITNESS A SIGNIFICANT INCREASE BY 2015
Press Release - According to Global Data (December 2010), CBM production in Australia, China, India, and Indonesia is expected to witness a signific ...
Sunday, 05 June 11
COAL IMPORTS BY CHINA IS LIKELY TO INCREASE - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week except for the BDI and Cape index was up, but even in these sectors the momentum was compared t ...
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 o ...
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- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Planning Commission, India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
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