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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, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
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- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- ASAPP Information Group - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
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