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