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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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Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
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- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Aditya Birla Group - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
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