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