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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, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
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