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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, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
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