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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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Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
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- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Economic Council, Georgia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Parliament of New Zealand
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
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