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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, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
Tuesday, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
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- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
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