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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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Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
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- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Planning Commission, India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
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