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Friday, 13 June 14
DRY BULK MARKET KEEPS ON FALLING, DESPITE RESPITE OF THE CAPESIZE SECTOR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market has kept on its lacklustre performance overall, with the Baltic Dry Index (BDI) still hovering below the 1,000 point mark. Yesterday, the industry’s benchmark retreated by 34 points, dropping to 939. All segments were on the downside, with the Capesize market losing part of the momentum it had developed over the course of the past week. The Baltic Capesize Index was down by 72 points yesterday to 1,792.
According to the latest weekly report from shipbroker Fearnleys, “it was a positive week for the big ships, seeing overall market improvements of 15% w-o-w. Much appear due to increased atlantic volumes and a major miner taking several ships for front hauls. The conference trade West Australia/China has been stable and firming, with rates now coming in between usd 8.15 and usd 8.45 pmt, corresponding levels for pacific rounds up 10% and now standing at usd 13500.
Whilst coal trades remain depressed, recent physical iron ore developments defy worries of record-high inventories and falling chinese rebar demand. Period focus has beenon the short term, where recent fixtures include 180000 dwt/built 2004 done basis delivery S.China prompt for 6-10 months at usd 23k – as FFA values are poor for q1-q2/2015, same levels also apply for 2 x 179000 dwt/built 2009 done basis prompt delivery China for 14-19 months”, said Fearnleys.
On the Panamax market, it noted that “with holidays early week the Panamax market is suffering and in a steady decline in both hemispheres. Over the last month the Atlantic market gained over 50 % for a short peak followed by a steep downturn to even lower levels. If possible, Owners are holding back from fixing freight levels offered on voyage, alternatively take the 8.000 + 80 APS USEC to Med or about 3.000 average on T/C. Trading is limited.
Fronthaul is also weakening despite Owners resistance to go East, with mid-week levels under 35 pmt on voyage, or arround 12.500 + 250 GBB bss APS on T/C. Low activity level in the Far East also with APS rates applying only. Typically 6 + 80 GBB Indo/India or 6.000 average on T/C for Aussie rounds. The forward curve is all flat, indicating the panamax market will be 11.000 + for the next 5-6 years. Period takers are few with Owners offering 1 year close to the 10.000 mark. Rurmors that the Bank of China will limit Letter of Credit for Iron Ore imports did not exactly add any gun pow”, said the shipbroker.
Finally, on the Handy markets, it said that “the week started off with holidays in most European countries and the TA market is continuing south with a decrease of 26% w-o-w. We do see a steady flow of Brazilian cargoes which most likely will tie up tonnage which could lead to more pressure on the rates ex USG and Cont. Rates are still very low with USG/Cont being fixed in region of Usd 9-9,500 for Smax. But the increasing amount of cargoes for end June/early July dates are maybe a glimpse of a returning positive view. In the Feast the market is still very weak with a growing list of available tonnage.
Rates are under pressure with Spore positions able to achieve ard Usd 8k for trips to India while the Sth Africa cargoes getting fixed at ard Usd 10k+Usd 200k GBB. Several owners are now in the market to cover their positions under shorter period deals and asking ard 12k for same. Still a big gap between ows and chrts as little being concluded sofar”, Fearnleys concluded.
On a similar note, shipbroker Intermodal noted earlier in the week, that “the good performance of Capesize rates proved insufficient to inspire the rest of the market, which still operates under soft sentiment, while the Panamax segment has touched new year lows”. Meanwhile, in the S&P market, “the bad freight market together with the Posidonia event proved to be a bad combo for SnP activity, while Tankers were most popular for yet another week. On the tanker side, we had the sale of the “FORTUNE ELEPHANT” (317,174dwt-blt 11, S. Korea), which was picked up at a court sale by Greek buyers for a price of $ 77.5m. On the dry bulker side, we had the sale of the “EVER REGAL” (23,468dwt-blt 98, Philippines) which was picked up by European buyers, for a price of US$ 6.8m”, Intermodal concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 04 July 14
US: WEEKLY COAL PRODUCTION SLIGHTLY UP W-O-W
COALspot.com – United States the world's second largest coal producer, produced approximately 19.4 million short tons (mmst) of coa ...
Friday, 04 July 14
PARAM MITRA COAL RESOURCES SECURES US$ 7.5M INVESTMENT FROM TEMBUSU PARTNERS
Param Mitra Coal Resources Pte Ltd (“PMCR”), which owns two operating coal mines in Indonesia, has secured from Singapore private equit ...
Thursday, 03 July 14
BUMI TRANSFERS 19% OF KPC STAKE VALUED AT US$ 950 MILLION TO CIC
COALspot.com: PT. Bumi Resources announces that 19% of its holdings in Kaltim Prima Coal (KPC), valued at US$ 950 million, has been transferred to ...
Thursday, 03 July 14
PANAMAX : IN THE ATLANTIC, OWNERS ARE WILLING TO FIX AT ABOUT $2.5K PER DAY - FEARNEYS
Handy
In its latest weekly report, shipbroker Fearneys noted that, this week seems to have been more of a wait and see game between owners and ch ...
Wednesday, 02 July 14
NEWMONT FILES FOR INTERNATIONAL ARBITRATION ON ORE EXPORT BAN - THE JAKARTA POST
PT Newmont Nusa Tenggara (NNT), a subsidiary of United States-based Newmont Corporation, has filed for international arbitration against the govern ...
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- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
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