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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, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
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- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
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