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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, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
Wednesday, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
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- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
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