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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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Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
Wednesday, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
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- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
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