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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, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
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- White Energy Company Limited
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
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