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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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Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Australian Coal Association
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
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