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Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the Supramax Index rising by 22 points, as rates for supramaxes were up by $229 to $12,852. Similarly, average daily rates for Handies were higer by 440 to $10,334. Capesizes also moved to higher ground, as the Baltic Capesize Index was up by 14 points, or $170, with average daily rates now at $3,826. By contrast, the Panamax market has kept on falling, as average earnings yesterday were set at $7,815.
In its weekly report, shipbroker Fearnleys noted on the Capesize market that “bunker prices have stabilized at lower levels and the freight market has seemed to have stabilized, with the exception of the Atlantic which is dismal. The usual large operators have continued to turn over their fleets at stable rates (just below USD 10k daily). The front haul market has also hit a bottom, and is now flat. We do not expect any major movement in the rates and any changes are more likely to be related to bunker cost than to the basic supply and demand picture” it said.
In the Supramax/Handysize markets, Fearnley’s noted that «the Supramax market is still looking very healthy compared to the other sizes of tonnage. In the Atlantic supply of fresh orders helped the rates to reach the range of USD 24-25k for the voyages from USG/ESAM to Continent and Med. Period activity focused mainly on 3/5 or 4/6 months employments for which vessels were paid USD 8.5/10k daily based on the delivery in the East. Pacific market has been steady and looking to remain firm in coming days as rates are getting firm on Indo and Nopac rounds. For Indo-India, large eco Supra now fixed at USD 9k basis South China dely. Some owners also asking for low teens for SE Asia dely. Nopac also fixed bss at USD 10k basis Japan. Indian iron ore market remains quiet with less activity on WCI & ECI. WCI-China rates around USD 8k and ECI-China around USD 5k. RBCT rv fixed at APS
USD 10k + BB USD 350k. Red Sea fertilisers to India are fixed high teens. Not much activity seen on short period and rates around USD 9k for large Supra” the report noted.
Finally, on the Panamax front, it noted that “even though there were fresh cargoes entering the Atlantic it is not sufficient to have any major effect on the rates due to the growing list of available ships. In the Med, the tonnage list is shorter, perhaps giving owners the idea they might achieve good rates, however it is simply not a demand for prompt vessels in this area. More cargoes are appearing in the Atlantic for end July dates, however this is of no comfort to the many owners with prompt positions. Tarvs now being fixed in region of USD 8k. The ECSA market is served by ballasters from India and the Feast were they achieve rates around USD 14.5+475k BB basis APS delivery. Pacific market is quiet but rates seem to be quite stable with Aussie and Indo RV being the prominent trades. As for Nopac, the grain cargos are quite scarce. Rates for rounds are around 5-6k. The period market finds little support and few fixtures are reported this week. Short periods like 4/6 mos are being paid in region of 9-9.5k for Feast delivery” Fearnley’s concluded.
In a relative note, Commodore Research noted the effect of the recent weather conditions (heavy rainfall) in Southern China, with regards to the dry bulk market. Commodore mentioned that Chinese hydropower production has continued to surge and is putting added pressure on demand for thermal coal. With drought conditions finally seeing real improvement, it is possible that hydropower production will approach record levels within a few months. Panamax rates have been most affected by the decline in demand for imported thermal coal cargoes and are poised to come under additional pressure” mentioned the US-based analyst.
It added that “to make matters even worse for upcoming thermal coal demand prospects (and better for hydropower production prospects), southern China is now expected to be hit by another tropical storm. Tropical Storm Doksuri is currently situated east of the Philippines and is expected to head on a northwesterly track towards China. As of now, Tropical Storm Doksuri is expected to make landfall near Hong Kong on Saturday and bring a very large amount of rain to southern China over the weekend. Hydropower production will benefit if the storm continues on its projected path and makes landfall as planned. As hydropower production increases, there will be less demand for thermal coal” the company concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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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 ...
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 ( ...
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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- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
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