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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, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
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- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Aditya Birla Group - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Australian Coal Association
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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