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