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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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Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
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- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- The University of Queensland
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- PTC India Limited - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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