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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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Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
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- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- The University of Queensland
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
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