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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, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
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- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Minerals Council of Australia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
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