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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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Saturday, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
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- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Planning Commission, India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
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