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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, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
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- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Planning Commission, India
- The University of Queensland
- ASAPP Information Group - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- PTC India Limited - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Siam City Cement - Thailand
- The Treasury - Australian Government
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
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