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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, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 m ...
Tuesday, 21 June 11
SURGE IN PRODUCTION AND PRICES TO PUSH BUKIT ASAMS NET PROFITS ABOVE RP 3T - THE JAKARTA GLOBE
State-owned coal company Perusahaan Tambang Batubara Bukit Asam expects its net income to increase about 50 percent this year on the back of rising ...
Tuesday, 21 June 11
COURT BATTLE PUTS MASSIVE COAL PROJECT IN JEOPARDY - KOREA JOONGANG DAILY
As Korean companies race to exploit Indonesia’s abundant natural resources, two companies have been locked in a court case that has become so ...
Tuesday, 21 June 11
DRY BULK MARKET TURNS RED AGAIN ON VESSEL OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk entered this week on a negative turn, with the industry’s benchmark the Baltic Dry Index (BDI) retreating by 0.35% to end the ses ...
Monday, 20 June 11
KPCL SETS ALL INDIA & POSSIBLY A WORLD RECORD FOR COAL DISCHARGING
COALspot.com - Krishnapatnam Port has set an all India record for discharging 95,528 tons of steam coal in just 24 hrs using the conventional unload ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- White Energy Company Limited
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
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