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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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Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
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- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Australian Coal Association
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
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