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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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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
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 ...
Wednesday, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
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- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Australian Coal Association
- Parliament of New Zealand
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Minerals Council of Australia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
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