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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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Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
Wednesday, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
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- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
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