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Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI) was down to 1,328 yesterday, retreating by 0.15% on the day. Once again it was the bigger ships which suffered. The Capesize segment fell by 0.96% to 1,886 points, while the Panamax market was down by 0.32% to 1,536 points. Among the silver linings of the market was the Handysize/Handymax market with a gain of 0.43% to 695 points.
The first half of the year ended with the average value of the BDI standing at 1,372 points, down by 57 % from the first half of 2010 when the BDI was at 3,166 points and capesizes were earning $11,507/day more than today’s levels. “However, shipping investments have shown a 7% increase from the first quarter of the year with bulk carriers being protagonists in the secondhand market and containers dominating in the newbuilding scene” said Golden Destiny in a relative analysis.
It went on to mention that although bulk carriers have lost their strength in the secondhand and newbuilding market they are still holding the lion share in both markets, 35% of the total volume of transactions. “The lost of confidence is mainly attributable to the weak environment of the dry market as the BDI still hovers below the psychological barrier of 1,000 points mark and Chinese commodities’ demand appears not enough to absorb the ongoing flow of newbuilding deliveries. But, when the demand side will be rebalanced with the supply? The recovery of the market remains pending from the start of the year. During June, the BDI managed to gain a 6% month-on-month rise, but it seems that the high levels of 2010 are not yet feasible. Capesize time charter equivalent earnings have shown a 39.5% growth from May levels, but China’s high iron ore port stockpiles, barriers in electricity consumption and persistent high levels of commodities’ inflation cannot still narrow the gab with the supply side. According to data from the General Administration of Customs, China’s imports of iron ore fell to 51.09 million tones in June, compared with 53.30 million tones in May. The agency said that imports rose 19.3% year-on-year last month, versus the 24.8% rate expected by the economists. The June result was below the 28.4% rate in May and the lowest annual growth rate since the -6.4% posted in October 2009, which was the last of 12 consecutive months year-on-year declines that started in November 2008 after the global financial crisis” said Golden Destiny.
In a separate weekly report from shipbroker Fearnley’s, it was mentioned that the lack of direction in the Capesize market has continued this week, but now showing signs of weakening. “The West Australia market was struggling to decide which side of usd 8.00 the market should be, and fixture have been concluded on both sides, though the most recent reported is at a low usd 7. 75. Also the Front haul market was stable, just over the usd 20.00 mark, but has now dropped below and is not closer to usd 19.50pmt. The Atlantic again was living in its own world, but saw a significant down turn towards the end of the week, but has now stabilized at a healthier usd 13,000 level p/d. This market may not last as we suspect re-let charterers have cleared their tables pending the holiday season, but it should be noted that the tonnage supply is still tight. On the period front some more short period deals have been done in the usd 11,500-12,000 level which is only slightly down from the last rally. One can attribute this to fewer vessels idle (not trading) due to the low market level” said the shipbroker.
Referring to the Panamax market Fearnley’s said “it faced a slow start to the week, with limited activity in all basins. Atlantic rounds have stabilized around mid teens, however the north continent is somewhat tighter on tonnage, so this area might improve somewhat in the next few days. Ballasters for the Pacific are keeping the EC South American market down, in spite of quite a few cargoes out of that area. A few fresh cargoes emerged as well out of Indonesia and Aussie, but not enough to support any rise in rates for the time being. However the fall in rates seems to flatten out. With a tic more positive tone in both basins the last day, the end of the week may bring a steadier market, but this remains to be seen”.
As for the Handy market, “Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Feast remain healthy. More cargoes expected for 1st half of August but this remains to be seen. Overall sentiment remains soft in Pacific, however few enquiries keeping market busy. For Indo-India, supras in South China are getting close to 12k. 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 cargoes seen from RBCT. As a result, RBCT biz fixed on ECI tonnage around 11k. Red Sea, ferts on handymax/ supras are fixed at very mid 20´s pmt on voy bss to WC India. Period deals done at 13k for large supras” concludedd Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
Tuesday, 02 August 11
INDONESIA BECOMES SECOND LARGEST COKING COAL EXPORTER
COALspot.com - Indonesia, the largest thermal coal exporter in the world now becomes second biggest coking coal exporter to Japan. Indonesian’ ...
Tuesday, 02 August 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK TO PRESENT LATEST TRENDS
Press Release - Global commodities prices have been staying high since the beginning of 2011, resulting in the “TENSION” in various coun ...
Tuesday, 02 August 11
REALM RESOURCES TO ACQUIRE A 75% INTEREST IN THE KATINGAN RIA COAL PROJECT
COALspot.com - Scoping study at the Katingan Ria Coal Project, Central Kalimantan demonstrates positive technical and financial potential for the pr ...
Tuesday, 02 August 11
COAL INDIA TO INVEST IN GOLDEN ENERGY MINES
COALspot.com - Golden Energy Mines, part of PT Dian Swastatika Sentosa Tbk’s, is still negotiating with several strategic investors to o ...
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- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Planning Commission, India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Deloitte Consulting - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Australian Coal Association
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
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