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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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Thursday, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
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- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
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