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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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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
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