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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, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
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- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Central Electricity Authority - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
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