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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, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
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- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
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