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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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Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
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- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- The University of Queensland
- PTC India Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
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