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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, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
Tuesday, 26 July 11
UT'S SALES COULD REACH TO 8000 UNITS BY THE END OF 2011
COALspot.com - Sales of Komatsu heavy equipment in the domestic market in the first half of 2011 rose 59 percent to 4333 units compared to the same ...
Monday, 25 July 11
INDONESIA STATE ELECTRICITY COMPANY HAS BURNED 19 MMT OF COAL FOR FIRST HALF OF 2011
COALspot.com - Indonesia's State Electricity Company and other IPPs have burned 19 million tons of coal for first half of this year said,Pamudji Nu ...
Monday, 25 July 11
AKR CORPORINDO TO PRODUCE 0.3 MMT OF COAL BY DECEMBER
COALspot.com - PT AKR Corporindo (AKRA) began producing coal from its mine in Muara Teweh, Central Kalimantan. The company is targeting to pro ...
Sunday, 24 July 11
AN INDIAN PORT SETS A WORLD RECORD FOR CONVENTIONAL COAL DISCHARGE
COALspot.com - Krishnapatnam Port has set a World record for discharging 106,171 tons of steam coal in just 24 hrs using the conventional unloading sy ...
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- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
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