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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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Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
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- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- PTC India Limited - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
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