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