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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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Sunday, 31 July 11
CAPES ARE TRADING BELOW $ 9500 PER DAY - VISTAAR
COALspot.com - The BDI further softened by 4.46 pct and closed at 1264 points which touched below 1300 points after long time. The Cape and Panamax ...
Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
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- SMC Global Power, Philippines
- The Treasury - Australian Government
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Planning Commission, India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Eastern Energy - Thailand
- PTC India Limited - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
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