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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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- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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