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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, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
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- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
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