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Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
 The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending its 12-day upwards momentum, retreating marginally both on Tuesday and yesterday. The BDI now stands at 1,957 points, down by 7 points or 0.36 percent on a daily basis. Even the panamax segment which had behaved in a healthier manner during these past couple of weeks didn’t manage to edge away, losing yesterday 2.18 percent, with daily average rates for panamax vessels standing at $20,947. On the bright side, the capesize market which had plunged to near break-even levels, below the $10,000 daily mark, continued its positive momentum , rising yesterday by 2.48 percent, with rates now standing at $15,369.
Commenting on the capesize market, the latest weekly report from shipbroker Fearnley’s said that “any enthusiasm visible in the market at the end of last week was washed away as this week opened. The marginal improvements in the Pacific quickly evaporated and fixtures were being concluded in the mid USD 6.00 level after a high of USD 7.00. The front haul activity also was thin, with no fixtures reported until today and a number of early vessels have been fixed at Index levels. This has given the market some faith back and the most recent fixture in the West Australia/China leg is now back at USD 7. 00, and owners also feeling more confident on the front haul leg. Having said this there are still ballasters showing prompt ETAs in Brazil, with little hope of spot cargos becoming available. The week has been quiet on the period front with no fixtures reported”.
Regarding the panamax market, Fearnley’s noted that last week ended quiet, howewer the trend was slowly upwards in both basins. “Atlantic showed more activity and some charterers even struggled to cover prompt requirements. Whilst in Pacific more tonnage coming prompt with limited cargoes to support, looks more uncertain. Owners want to return to Atlantic as activity looks better on short term there. Front haul voyages fixed at USD 31,000 + while TAs reached almost USD 23,000. Pacific rounds under pressure this week, but still concluded around USD 18,000, wheras backhaul still at moderat USD 12,500. Short period marked in Pacific remain quite firm at levels around USD 24,500 for LME´s for 3/5-4/6 months” the broker concluded.
Meanwhile, the latest weekly report by George Moundreas said that the negative impact by the global economical developments in the dry bulk markets is manageable. “The reason for this is that tonnage demand will continue to be supported by old factors like Chinese iron ore imports, which will continue to be higher this year as well, despite any short term volatility, as well as newer factors like China’s coal imports, but most importantly India’s coal imports, which this year alone could very well increase by 250%. In a worldwide level, despite the slowdown, sea transportation of just those two commodities (coal and iron ore) is expected to increase during this year by at least 130 million tons, compared to 2009. This equates to an additional capacity of 100-120 capesize vessel” said the report, compiled by financial analyst George Grigoriadis. To certify that, Brazilian mining giant recently confirmed that the Chinese economy will accelerate its pace during the fourth quarter of the year, with an increase of steel production, while the same is likely to happen with the other major economies for the dry bulk industry, the US and the EU.
Source: Nikos Roussanoglou / Hellenic Shipping
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Wednesday, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
Wednesday, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
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- Central Java Power - Indonesia
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- Economic Council, Georgia
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- Alfred C Toepfer International GmbH - Germany
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- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
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- Global Green Power PLC Corporation, Philippines
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- Standard Chartered Bank - UAE
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- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
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- Africa Commodities Group - South Africa
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- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
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- Ministry of Transport, Egypt
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- Sical Logistics Limited - India
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- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
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- Directorate Of Revenue Intelligence - India
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- IEA Clean Coal Centre - UK
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- Bhushan Steel Limited - India
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- Indian Energy Exchange, India
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- Directorate General of MIneral and Coal - Indonesia
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- Eastern Coal Council - USA
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- India Bulls Power Limited - India
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- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
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- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- PTC India Limited - India
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- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Planning Commission, India
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- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
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- Minerals Council of Australia
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- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
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- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
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- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
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- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
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- Bhoruka Overseas - Indonesia
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- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
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- Interocean Group of Companies - India
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- Gujarat Mineral Development Corp Ltd - India
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- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
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