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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 during the past 10 consecutive sessions, bringing the industry’s benchmark, the Baltic Dry Index (BDI) down to 878 points yesterday, losing another 26 points or 2.88 percent, which is the lowest since March. The Baltic's capesize index fell by 3.54 percent to 1,252 points with average daily earnings for capesizes, dropping to $4,526. Similarly, The average daily earnings for handysize and supramax ships fell to $8,912 and $10,539, respectively. Finally, Baltic's panamax index dipped 2.23 percent to 877 points, while their average daily earnings fell $162 to $6,976.
In its latest weekly report, shipbroker Fearnleys noted on the Capesize market that history is made as this segment hits its absolute lows so far this year. With average spot earnings falling another 15% w-o-w to come in at USD 4500/day and demand continuing to be far from sufficient to employ a growing fleet, tonnage keeps piling up in all areas. Atlantic is taking the hardest hit, as ore and particularly coal exports have to a large extent become paralyzed by traders panicking in their efforts to sell cargoes already loaded and bound for China. An ongoing Euro crisis coupled with negative news from the Chinese steel industry gives no reason to expect conditions to improve near-term - clearly reflected in FFA levels - and rates for modern 175,000-tonners are now down to well below USD 10k for 5-8 months mentioned Fearnleys.
On the Panamax market it noted that we left last week on a slow note, and continued into this week with the same pace. London was closed on Monday and Tuesday which contributed even further. We hear rumors of at least 30 Panamaxes just lying outside China fully loaded with coal. The traders are not able to sell it due to record high stockpiles in Chinese ports. A few fronthaul orders surfaced in the market and vessels willing to go FEast still achieved quite good rates, whilst transatlantic biz is scarce with most being done on aps or voyage basis. Charterers are rating vessels around 8k for transatlantic biz, and about same levels for Baltic rounds. In the Pacific the rates are low and not a lot of orders in the market. Indo and Pac rounds are paying around 5k. The period market is not very active as few owners are willing to charter out their vessels at the low rates chrtrs are currently offering. Would put short period around 8k for LME´s said Fearnleys.
On the Handy markets, the shipbroker stated that with holidays in some European countries start of the week and Posedonia at the same time, it resulted in less activity compared to last week. Continent positions fetched tick above USD 5k for US Gulf redelivery, and US Gulf fixed close to USD 25k back to Cont. Fronthauls hovered at around USD 19k. The Pacific market has been slipping with still bottom to be found. For Indo-India, large eco Supra now fixed at USD 5k + BB USD 60k basis APS Indonesia. Nickel ore cargoes are not seen in the market anymore due to on-going Indo ban which has again taken away cargoes and putting pressure on the market. Nopac also fixed basis APS at USD 10k + 300k BB. Indian iron ore market remains quiet with less activity; WCI-China rates around USD 8k and ECI-China around USD 5k. 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 9k for large Supra concluded Fearnleys.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Planning Commission, India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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