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