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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, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
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- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- PTC India Limited - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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