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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, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
Tuesday, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
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- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- The University of Queensland
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Aditya Birla Group - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
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