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Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session up by 1.05% to 1,443 points. The Capesize Index has inched higher, gaining 1.63% on Wednesday to reach 2,116 points, managing to stay clear ahead of the Panamax sector. Panamaxes were also higher by 2.01% with the relative Panamax Index now standing at 1,626 points. Up until a couple of weeks ago, Panamaxes were ahead of their larger Capesize counterparts, in a paradox of the latest circumstances prevailing in the dry bulk market for months.
In a latest update on the Capesize resurgence, US-based analyst Commodore Research & Consultancy said that approximately 108 dry bulk vessels were delivered in May, a significant increase from 71 vessels delivered in April. May saw the delivery of 29 handysize vessels, 36 handymax vessels, 22 panamax vessels, and 21 capesize vessels. In comparison, April saw the delivery of 14 handysize vessels, 20 handymax vessels, 20 panamax vessels, and 31 capesize vessels.
“Approximately 35 vessels were demolished in May, a small increase from 27 vessels demolished in April. May saw the demolition of 11 handysize vessels, 4 handymax vessels, 8 panamax vessels, and 12 capesize vessels. In comparison, April saw the demolition of 11 handysize vessels, 5 handymax vessels, 6 panamax vessels, and 5 capesize vessels.
The capesize market fared the best in May, registering a net addition of only 9 vessels (in comparison, April saw a net addition of 26 Capes). This is partially why Cape rates have been able to find support since the second half of May. The 12 Capes that were scrapped in May were the largest amount of Capes scrapped in a single month this year. In comparison, January to April saw an average of 6 Capes scrapped per month. May’s small net addition, combined with an increase in iron ore and coal demand seen throughout much of June, has helped average Cape rates rise from approximately $5,500/day at the middle of May to almost $14,000/day” said Commodore in its report.
In its latest weekly analysis of the dry bulk market, Fearnley’s said, referring to the Capesize segment, that “as most players were expecting a summer quiet market, the opposite is happening. West Australia/China route is stronger, in spite of only one of the big three appears to be active. Although little information in the market appears about last done levels, it seems mid 8s is the going level for this route. For Tubarao/Qingdao we see more activity as well, and bid/offer is presently usd 20,50/21.00 bss Tub/Qingdao. Short period is steady, with expectations for some further improvement, bid/offers for short period usd 12,000/12,500 dly” said the shipbroker.
In the Panamax segment, “despite recent signs of life in the Cape market, and spot levels on Panamax turning positive mid week, the sentiment in the Panamax market suffers from an underlying weak tone. Charterers are holding back and activity overall is limited. In the Atlantic prompt positions has been cleared out and rates are slowly climbing in mid teens. Grain orders still appear from ECSA, and runs to the Far East holding at 25 + 500 for ballasters or 22-23k bss Med positions. Owners are still suffering in the eastern hemisphere by lack of fresh requirements from both Aussie and NOPAC. Low volumes on coal with just a few Indonesian rounds still there, and short term expectations for coal is not encouraging. Pacific levels not at five figures yet. The FFA market is hovering around 12-13k for the next 12-18 months, maintaining similar levels for short/medium period where activity also is limited” said Fearnley’s.
Finally, on the Handy sector, it’s been “a quiet market with low activity for Supramax in the Atlantic this week, in particular for Cont/Med positions. NCSA-USG spot/prompt loaders also struggling to find employment. Ballasters from Indian Ocean adding pressure to the South Atlantic resulting in an overall negative trend.
The Pacific market is quiet. For Indo-India, Supras in south China are getting close to 11k. Nickel-ore rounds are getting firm rates in low-mid teens. Very quiet on iron ore front due to monsoons as WCI-China rates slided to 10k and from ECI around 9k.
Few Indian tonnage seen ballasting to Indonesia and RBCT. As a result, RBCT biz fixed on APS at around 20k. Red Sea, ferts on handymax/Supras are fixed at very mid 20´s pmt on voy bss to WC India. Period deals done at 14-15k for large Supras” concluded Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
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- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Parliament of New Zealand
- The University of Queensland
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
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