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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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Thursday, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
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- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- White Energy Company Limited
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Aditya Birla Group - India
- The University of Queensland
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
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