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Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s benchmark, the Baltic Dry Index (BDI) was down by 0.18% to 1,130 points, down by just two points. The Capesize market was practically unchanged on the day, with a marginal increase of just 0.06% to 1,613 points. The smallest ship size, the Handysize market has kept on rising with the relative Baltic index, being up by 1.12% to 630 points. By contrast, the Panamax market was down by 1.23%, while the Supramax was once again on the downside, retreating by 0.36% to 1,105 points.
In a relative note, Commodore Research & Consultancy said that Chinese coal imports have set another record as the company’s analysts had predicted. “Preliminary data from the National Bureau of Statistics shows that China imported 23.9 million tons of coal in April. This is 2.5mt (12%) more than was imported in March and 12.8mt (115%) more than was imported in April 2011. China's previous monthly coal import record was 22.4mt imported in November 2011. Going forward, we continue to anticipate that Chinese coal imports will set additional records this year. For July, we expect coal exports will exceed 25mt. Overall, we remain very bullish regarding upcoming prospects for Chinese coal imports because regional thermal coal export prices remain very low and Chinese electricity demand continues to surge. The 411 billion kwh of electricity that China produced in March 2012 was only slightly below the record 426 billion kwh produced in August 2011. Chinese electricity production normally peaks by August of every year due to peak season summer demand. In the summer months ahead, we expect electricity production will continue to increase rapidly and will set several new records. Thermal coal will remain in great demand, and we continue to anticipate that coal imports will set a record by July” concluded Commodore Research & Consultancy.
In its weekly report, shipbroker Fearnleys commented on the Capesize segment, by mentioning that “little has changed this week in terms of the market levels. All the major miners have been in and out of the market with little movement in the freight rates. The Bubble in the Atlantic burst and the market has fallen back to the USD 8000 bracket, still a premium to the Pacific market. As rates have largely remained stable the recent fall in bunker prices has benefited the bottom line of owners (except the ones already well into a ballast leg) Period fixing has also been scarce but is apparently on subs but no details reported” mentioned Fearnleys.
Meanwhile, in the Handy side, “the market remained variable. Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get over USD 20k/day, whilst USG/FE was worth above USD 25k/day. Average of TC routes closed at USD 11502 today and was still USD 1500 higher than similar index for the Panamax tonnage. Pacific market has been weak and falling. For Indo-India, large eco Supra can fetch close to USD 10k + BB USD 150k bss APS Indo. Nickel ore cargoes are not seen in market anymore due to on-going Indonesian ban which has again taken away cargoes and putting pressure on market. Nopac also fixed under USD 10k dop Japan. Indian iron ore market remains quiet with less activity. WCI-China rates around USD 10k and ECI-China around USD 7k. Some ECI Supras have been ballasting to pick up Indo cargoes as well. RBCT rv fixed at APS USD 11k + BB USD 350k. Red Sea fertilisers to India fixed high teens. Not much activity on short period and rates around USD 11k for large Supra” said the shipbroker in its report.
Finally, on the Panamax front, it noted that “intoxicated by some areas being tight for tonnage, Owners predict an Atlantic market on the rise despite falling indices. Transatlantic rounds from 12-14k depending on position and direction. Some Chrtrs have had a fair challenge to cover fronthaul buiz where levels are around 18k via COGH. Overall the Western hemisphere seems fine tuned with a few fresh mineral requirements and so far limited volumes of June grain cargoes out of ECSA. Fair activity in the Pacific where Owners have been eager to cover a growing list of positions in a sliding 8000 dollar market mid-week. With reduced hopes for a recovery in European economy and a slowly falling forward curve, period interest is limited. Only Owners willing to give wide spreads or options could find period takers for efficient tonnage in the 10k area” concluded Fearnleys.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
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- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
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