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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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Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
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