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