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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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Friday, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
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- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Bhatia International Limited - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
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