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Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured even if the world economy hadn’t undergone the worst recession in recent decades. With China’s moods and swings continuing to play a catalytical role in dry bulk rates’ volatility, things are expected to stay as they currently, at least until more nations like India and other emerging economies come forward and major economies return to their pre-recession levels of activity.
As a result of these conditions, with the added “bonus” of fears for a Chinese economy major slowdown, the Baltic Dry Index (BDI) remains trading at multi-year lows, declining by more than 20% since the beginning of the year. Yesterday, the index took another dive down to 1,420 points, a fall of 1.25% on a daily basis. All ship types were down as well, with Capesizes losing 1.63% and Panamaxes retreating yet again by 2.33%, on the back of Tuesday’s fall of 3.18 percent. Brokers said the market lacked direction due to slow business. In a report, Reuters said that earnings for panamaxes, which usually transport 60,000-70,000 tonne cargoes of coal or grains, have more than halved since the same period last year.
"We continue to believe that the order book will outweigh the impact of scrapping over the near-to-intermediate-term and keep dry bulk day rates under pressure," Wells Fargo Securities said in a note, quoted by Reuters.
In its weekly report, shipbroker Fearnley’s said, referring to the capesize market, that “the Pacific market has continued to rise on the back of last week´s strength. Driven by vessels delays the majors had to scramble to cover early positions and driving the West Australia freight rate up from a conference level in the mid/upper USD 7.00´s to high USD 9.00. Since then it has pulled back a bit but still trading in the upper USD 8.00 level. The Atlantic has also proven to be robust with levels now north of USD 14k daily on timecharter, and tonnage is still in tight supply. There were a few period deals done in the upper USD 11k´s for short period, and around USD 11k for a one year deal. Presently the market seems stable at today´s improved levels” said the shipbroker.
Regarding the ailing Panamax segment, it mentioned that it “continued its downward pointing curve this week with rates knocking off ard USD 1,000 in both hemispheres. It seems the Pacific has dried up with cargoes as rates just keep on declining. Several ows are now ballasting towards the ECSA grain cargoes to secure employment for their ships. In the Atlantic owners are getting more and more reluctant to leave the basin and this puts pressure on the rates. The Tarv´s are now being fixed in the region of USD 15k while the Fhauls are fetching around USD 22k. In the Pacific, rounds are being fixed at tick below USD 10k while the backhauls are getting a poor 5k level. The period market also took a dive this week with the MV CLARE 74,759 dwt/blt´05 being fixed with delivery Mizushima for 11/14 months at USD 12,750” said the report.
As for the smaller Handy/Supramax segment, Fearnley’s noted that “the Atlantic seems over supplied with tonnage on prompt positions. The sentiment is nervous but it could be better balance for mid July positions onwards. EC South America also softening assisted by ballasters from Indian Ocean. West coast India remains inactive due to monsoon in India. There has been no change in India, good vessel in EC India may see around USD 10k for an Indonesian round voyage and Richards Bay will see the same. Handymax/Supramax may see low/mid USD 20 for Red Sea/India business. In the Pacific large Supras are able to secure 10k for NoPac rounds with an underlying weaker tone for forward positions” concluded the shipbroker.
In its report, Reuters mentioned that brokers were watching for further developments in China, which is facing its worst power shortages in years and likely to have an impact on dry freight activity. Uncertainty over prospects for the world economy could also potentially hurt demand for raw materials said the agency.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
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