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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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Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- The University of Queensland
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Xindia Steels Limited - India
- White Energy Company Limited
- Economic Council, Georgia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
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