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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, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
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- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- MS Steel International - UAE
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- The University of Queensland
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
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