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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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Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
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- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
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