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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, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
Tuesday, 20 September 11
MTD INAUGURATES ITS COAL TERMINAL IN JAVA ISLAND
Press Release – MTD Group of Malaysia, one of prominent key players in the development of infrastructure in Malaysia, today inaugurated their ...
Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and c ...
Monday, 19 September 11
CHINA IMPORTS MORE THAN 10 MMT INDO COAL IN AUGUST 2011
COALspot.com - Indonesian coal exports dropped 1.642 million tons in August compared to July exports. Indonesia exports 29.662 million tons of coal ...
Monday, 19 September 11
INDOMOBIL ENTERING INTO COAL MINING BUSINESS
COALspot.Com- PT Indomobil Sukses Internasional Tbk, part of, one of Indonesia's largest conglomerates, to enter into mining industry ac ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Bhatia International Limited - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
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