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Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesizes have been the main losers, with the Capesize Index moving down to 1,965 points, from 2,022, while additional pressure came to them market from the Panamax segment which also lost some ground yesterday. It’s more than obvious that it will take a lot more scrapping of older vessels and a much more stronger demand for commodities around the world, to make for the incredible rise of newbuilding deliveries, which have overweighed the market since the end of 2010.
In a recent update, US-based analysts at Commodore Research & Consultancy said that “Capesize rates have come under pressure as we anticipated. In recent weeks, we alerted clients that capesize rates would likely come under pressure due to our anticipation of a lull in Chinese iron ore demand, and also due to the continued delivery of a large amount of capesize newbuildings.
Chinese iron ore fixtures have come under significant pressure as we anticipated. 10 vessels (including 5 capesize vessels) were chartered to haul iron ore to China last week. The previous week saw 21 vessels chartered to haul iron ore to China (all 21 vessels were capesize vessels). Chinese iron ore demand has remained low this week and more capesize newbuildings continue to enter the market. As a result, capesize rates are coming under pressure” said Commodore. In a latest article, Reuters mentioned that according to traders dry bulk freight rates were expected to remain subdued in July on the back of the Indian monsoon season, which will most likely reduce iron ore exports from India. Also China may import lower volumes of iron ore due to its current high level of inventories.
In its latest weekly report, shipbroker Fearnley’s referring on the Capesize market, mentioned that “after a short period where owner seems to be deciding the direction and rates kept improving, the air suddenly was out of the balloon end last week. So far this week the big ones have not appeared in the market for West Australia/China, resulting in rates dropping from usd 8.65 to usd low 8s (based on sentiment and lack of fixtures). The front haul rates have however remained steady arnd usd 20.50 bss Tub/Gd, but expected to decrease as less West Australia fixtures resulting in more ballasters. Period marked is steady, with short period rates arnd usd 12,000 dly” said the report.
On the Panamax front, Fearnley’s said that “overall the market is suffering from low activity and a bearsih sentiment where Charterers are holding back to book. North Atlantic rates remain realtively flat above the mid teens with a fine balance between fresh requirements and open positions. In the South Atalntic the almost stable 25 + 500 level gradually seems to disappear as the area clearly is suffering from an increasing number of ballasters from the east. In the Pacific the trend from last week continues. Levels in the 9,000 area and fresh buisines mainly represented by some coal from Indonesiea to China. Otherwise low activity and volumes for more open positions in the Far East. With a slowly sliding FFA market and summer holidays in Europe coming, the forecast is not exactly thrilling” said the shipbroker.
As far as the smaller Handy sector, “business from USG to Cont/Med farily healty but nervous going forward.Overall the Atlantic activity is on the low side with a negative undertone as number of open positions seems to increase. Some shortage of tonnage in the South Atlantaic with the same trend as further north – rates are softening. Pacific market remains quiet. For Indo-India, supras in South China are getting close to 10k. Nickel-ore rounds are getting firm rates in low teens. Very quiet on iron ore front due to monsoons as WCI-China, rates slid to 10k and from ECI around 9k. Little Indian tonnage seen ballasting to Indonesia and RBCT. As a result, RBCT biz fixed on APS at around 20k. Red Sea, ferts on handymax/ supras are fixed at very mid 20´s pmt on voy bss to WC India. Period deals done at 13k for large supras” said the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
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- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- White Energy Company Limited
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
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