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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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Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
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- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
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