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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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Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
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- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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