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