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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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Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
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- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
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