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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, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
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