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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, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
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- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- The University of Queensland
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
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