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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, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
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- Economic Council, Georgia
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Australian Coal Association
- London Commodity Brokers - England
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
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