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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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Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
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- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
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