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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, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
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