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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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Tuesday, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
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- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- MS Steel International - UAE
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
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