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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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Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
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- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
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