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