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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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Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
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- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- The University of Queensland
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
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