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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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Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
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- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- The University of Queensland
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
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