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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, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
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- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- VISA Power Limited - India
- New Zealand Coal & Carbon
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