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