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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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- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Parliament of New Zealand
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Economic Council, Georgia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
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