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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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Tuesday, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
Sunday, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
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- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Planning Commission, India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Australian Coal Association
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
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