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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, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
Tuesday, 20 September 11
MTD INAUGURATES ITS COAL TERMINAL IN JAVA ISLAND
Press Release – MTD Group of Malaysia, one of prominent key players in the development of infrastructure in Malaysia, today inaugurated their ...
Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and c ...
Monday, 19 September 11
CHINA IMPORTS MORE THAN 10 MMT INDO COAL IN AUGUST 2011
COALspot.com - Indonesian coal exports dropped 1.642 million tons in August compared to July exports. Indonesia exports 29.662 million tons of coal ...
Monday, 19 September 11
INDOMOBIL ENTERING INTO COAL MINING BUSINESS
COALspot.Com- PT Indomobil Sukses Internasional Tbk, part of, one of Indonesia's largest conglomerates, to enter into mining industry ac ...
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- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- The University of Queensland
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
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