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Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market was put on hold. Yesterday, the BID (Baltic Dry Index), the industry’s benchmark was down by 6 points to 718 points, with the Panamax market facing the most downward pressure. The relative index (BPI) was down by 24 points to 788, while almost any other ship market was also on the downside, with the exception of the Supramax one, which was practically unchanged. The main gainer from last week’s rally, the Capesize market, was down by 5 points and still unable to bring itself to any meaningful recovery.
In its latest weekly report, Fearnleys commented on the Capesize market, that a week-on-week improvement in daily earnings of more than 20% would under normal circumstances be remarkable, but when basis is around usd 2700 it hardly raises eyebrows. The last few days have seen a micro-rally caused by Australian miners paying up to replace tonnage delayed by bad weather, and a certain optimism has been evident also for the Brazil/China iron ore trade on speculations that chinese mills will take advantage of falling iron ore prices. Fundamentals generally remain unchanged, however, and present spot average value of usd 3300/day still covers less than half of daily running costs. Despite this, majors keep picking short period tonnage, although at ever lower levels - recently exemplified by 177000 dwt/built 2007 delivering china prompt for 4-7 months at usd 8k/day said the shipbroker.
In a separate report, shipbroker Shiptrade & Services noted on the Capesize front, that «the downwards trend continued at the beginning of the week although slightly improved at the middle-end of the week with the BCI closing at 1124 increased by 29 points and the 4 TC routes ending up at USD 2,927. In the Atlantic basin, rates remained steady at low levels with the fronthaul trips ending up at USD 18,500, same levels as last week, while the transantlantic round trips fixed at USD 2,750 reporting a modest increase of USD 250. The same sentiment applied in the pacific market with the Australian iron ore trade producing cargoes, but not enough in order to cover the oversupply of tonnage at the area. In this respect, round trips fixed at USD 3,750. Period activity fixed around at USD 9,000 levels for one year it said.
Meanwhile, in the Panamax market, Fearnleys noted that bank Holiday in London on Monday did not help the already bearish sentiment in the Panamax market. It was an extremely quiet start to the week and rates are continuing to slip in both hemispheres. We see the commodity imports to China slowing further and experienced several cargoes failing subjects due to not closing the sale it self. Mid week we see some more cgos in the Atlantic but the number of vsls are still outnumbering the cargoes. Tarvs are being fixed in region of Usd 5k while Fhauls are being fixed at around Usd 15/16k with Cont delivery. In the Pacific rounds are being fixed at ard the same levels as in the Atlantic ie 5k. The period market is non excisting with levels that can be achieved are too low for owners to even consider it said in its report.
Concluding its weekly analysis, Fearnleys said on the Handy markets that «the Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for trips to US Gulf, and USD 17500-ish for east redel. The US Gulf market kept more stable and fixed in line with last week, at low USD 11k towards Continent.
Pacific market remained quiet due to lot of ships available. For Indo-India, large eco Supra now fixed at USD 7k for dely Singapore. Nopac also fixed bss APS at USD 7k + BB USD 250k. Indian iron ore market remains quiet with less activity on WCI & ECI. WCI-China rates around USD 7k and ECI-China around USD 5k. RBCT rv fixed at APS USD 7k + BB USD 250k. Red Sea fertilisers to India are fixed high teens. Not much activity seen on short period and rates around USD 9k for large Supra it stated.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
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- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
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