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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 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
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- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Australian Coal Association
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
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