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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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- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- The University of Queensland
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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