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