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