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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, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
Thursday, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
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- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
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