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Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index (BDI) has failed to rise and instead has kept falling since the end of the previous week. Yesterday, the BDI was down by 3.65% or 36 points to 950 points. It was the seventh consecutive day of falls. The Panamax segment was the biggest loser, with the respective Baltic Panamax Index (BPI) retreating by 3.87% to 969 points, as a result of lower fixture activity in both the Atlantic and Pacific basins. Apart from the Panamax market, things are also grim in the Capesize front, with the Baltic Capesize Index retreating by 2.54%, with average daily earnings falling to just $5,292, which is the lowest in two months.
Commenting on the Capesize market, shipbroker Fearnleys mentioned in its latest weekly report that it has been heading “towards all-time lows again, as worldwide spot demand shrinks on a series of negative developments in fundamentals. With China now failing to deliver as far as raw materials imports are concerned, combined with a steady flow of new tonnage ex yard, sentiment is gloomy and the situation cannot be described as anything but dramatic. Average spot values are down 33% w-o-w, daily returns for fronthaul have dropped USD 4k to come in at USD 22k, and Pacific rounds are down 20% to USD 5600 - for those ships that are lucky enough to find cargo at all. Paper values have fallen dramatically, putting an effective stop to most period fixing - with the exception of 170k/2009 spot Singapore reportedly done for 12 months at USD 12,500 to major Europeans” said Fearnleys.
In a similar note, Shiptrade Services stated earlier that “the Atlantic market saw a significant decline on rates mainly due to lack of new requirements combined with the large volume of tonnage at the area. This was reflected on the transantlantic round which fell by USD 3,500 ending up at USD 5,000 as well as on the fronthaul trade which reported a reduction of USD 3,500 closing the week at USD 24,500. The Tubarao/Qingdao route was fixed below USD 20 pmt!, decreased even more than 50 cents. The same negative sentiment in the Pacific basin. The Australian iron ore trade showed minor movement leading the rates to downturn. Period activity remained silent with rates remained steady at around USD 12,250 levels” it mentioned.
Regarding the Panamax market, Fearnleys noted that “the week started with holidays in most European countries and in the US. With everyone back on Tuesday it was a very slow start and the market took yet another dive. It is a limited number of fresh requirements in both hemispheres and owners are starting to ballast into an already troubled Atlantic market. The ECSA grain market, which has kept the Atlantic alive the last couple of weeks, now face softening rates as the ballasters starts to appear ready for June loadings and volumes are low. TArvs now paying around USD 7-8k and the fronthauls are being fixed in the mid teens. In the Pacific as Chinese stockpiles are reported to be full and imports are slowing down rounds are being fixed at around 5k. The period market seems to evaporate as Owners ask under 8k for short period but takers are holding back and hardly anything has been done” it concluded.
On the Handy/Supra markets, Fearnleys noted that it was “another week of few signs for recovery in the Supra segment. Transatlantic voyages kept more or less stable with US Gulf positions fixing at tick below USD 25k/day. Vessels open in Skaw/Gibraltar range willing trip towards the US Gulf were paid around USD 5k. Fronthauls fixed around USD 18k/day. Pacific market has been weak and falling due to lot of prompt available ships and lack of cargoes. For Indo-India, large eco Supra now fixed at USD 6k + BB USD 60k basis APS Indo. Nickel ore cargoes are not seen in market anymore due to on-going Indo ban which has again taken away cargoes and putting pressure on market. Nopac also fixed basis APS at USD 10k + 300k BB. Indian iron ore market remains quiet with less activity on WCI & ECI. WCI-China rates around USD 9k and ECI-China around USD 7k. RBCT rv fixed at APS USD 11k + BB USD 300k. Red Sea fertilisers to India are fixed high teens. Not much activity seen on short period and rates around USD 10k for large Supra” stated Fearnleys.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...
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- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- White Energy Company Limited
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
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