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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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Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
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- Deloitte Consulting - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
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