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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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Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index ( ...
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- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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