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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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Sunday, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
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- Planning Commission, India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
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