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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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Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
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- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Metalloyd Limited - United Kingdom
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