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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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Sunday, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
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- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
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