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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, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
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- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Renaissance Capital - South Africa
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
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