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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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Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
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- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- The University of Queensland
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
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