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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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Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
Wednesday, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
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- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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