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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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Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
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- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Economic Council, Georgia
- PTC India Limited - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- The University of Queensland
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
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