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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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Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
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- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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