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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, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
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- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
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