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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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Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
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