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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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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 u ...
Sunday, 10 July 11
INDONESIAN BAYAN RESOURCES TO SUPPLY 100 MILLION TONS OF COAL TO INDIAN UNIVERSAL SUCCESS ENTERPRISES LIMITED
Coal miner PT Bayan Resources Tbk (BYAN), that is owned by Dato' Low Tuck Kwong, has entered into a conditional sales and purchase agreement to sup ...
Thursday, 07 July 11
BELOW 5100 COAL WILL BE BANNED FOR EXPORT BY 12 JANUARY 2014
COALspot.com - Indonesian government is in the process of drafting an amendment for government regulation 23/ 2010.
GR 23/2010 has issued to sup ...
Wednesday, 06 July 11
ATLAS RESOURCES TO OFFLOAD 17 PERCENT IPO - INSIDER STORIES
Coking and thermal coal miner PT Atlas Energi Resources aims to offload 17percent new shares of its enlarged capital after Eid-Fitri holidays, as qu ...
Tuesday, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
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Showing 5201 to 5205 news of total 6871 |
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- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
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