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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, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
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- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Planning Commission, India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
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