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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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Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
Tuesday, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
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- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Australian Coal Association
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