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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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Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
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- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Bhatia International Limited - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- The University of Queensland
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
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