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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, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
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- ASAPP Information Group - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- The University of Queensland
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
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