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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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Monday, 20 June 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2011 IS ON THE WAY
Press Release - Since the beginning of 2011, international commodity price has been in a high level, resulting in “TENSION” of energy co ...
Sunday, 19 June 11
S6 AND S7 ROUTES LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market seemed to be stabilizing and the BDI and Cape index was up marginally and closed at 1,423 points and 1,824 points ...
Sunday, 19 June 11
BUMI 1Q NET PROFIT INCREASES 16.5 PERCENT
PT Bumi Resources Tbk (BUMI), Indonesia's largest coal exporter that is 25% owned by London-listed Vallar Plc, reported a16.49% increase in net pro ...
Friday, 17 June 11
DRY BULK BREATHES SIGH OF RELEAF ON RENEWED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has caught a sign of relief from the middle of the week onwards, as the BDI (Baltic Dry Index) increased once again yesterday, t ...
Thursday, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
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