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