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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, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
Tuesday, 26 July 11
UT'S SALES COULD REACH TO 8000 UNITS BY THE END OF 2011
COALspot.com - Sales of Komatsu heavy equipment in the domestic market in the first half of 2011 rose 59 percent to 4333 units compared to the same ...
Monday, 25 July 11
INDONESIA STATE ELECTRICITY COMPANY HAS BURNED 19 MMT OF COAL FOR FIRST HALF OF 2011
COALspot.com - Indonesia's State Electricity Company and other IPPs have burned 19 million tons of coal for first half of this year said,Pamudji Nu ...
Monday, 25 July 11
AKR CORPORINDO TO PRODUCE 0.3 MMT OF COAL BY DECEMBER
COALspot.com - PT AKR Corporindo (AKRA) began producing coal from its mine in Muara Teweh, Central Kalimantan. The company is targeting to pro ...
Sunday, 24 July 11
AN INDIAN PORT SETS A WORLD RECORD FOR CONVENTIONAL COAL DISCHARGE
COALspot.com - Krishnapatnam Port has set a World record for discharging 106,171 tons of steam coal in just 24 hrs using the conventional unloading sy ...
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- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Australian Coal Association
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
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