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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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Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Australian Coal Association
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
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