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