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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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Sunday, 27 May 12
THE FREIGHT MARKET FROM INDONESIA TO INDIA WAS WEAK - VISTAAR
COALspot.com - The BDI continued to fall for the fourth straight week and the BDI fell by 9.38 pct this week closing at 1,034 points.
The Cape Si ...
Sunday, 27 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS HEADING TO SOUTH DIRECTION
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries have dropped this week by 5.43 percent an ...
Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profita ...
Thursday, 24 May 12
DRY BULK MARKET RETREATS ON LACK OF CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated yesterday on the back of lower Chinese demand for commodities such as coal and iron ore, typically hauled by dry bulk ...
Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
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