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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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Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
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- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Planning Commission, India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
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