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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, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
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- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- PTC India Limited - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
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