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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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Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
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- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Australian Coal Association
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
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