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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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Monday, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
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- Toyota Tsusho Corporation, Japan
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- Siam City Cement - Thailand
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- Commonwealth Bank - Australia
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- Anglo American - United Kingdom
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- Intertek Mineral Services - Indonesia
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- Wilmar Investment Holdings
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- PTC India Limited - India
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- Tamil Nadu electricity Board
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- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
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- Deloitte Consulting - India
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- Larsen & Toubro Limited - India
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- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
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- Independent Power Producers Association of India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Kepco SPC Power Corporation, Philippines
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- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
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- Alfred C Toepfer International GmbH - Germany
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- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
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- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
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- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
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- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
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- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
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- International Coal Ventures Pvt Ltd - India
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- Power Finance Corporation Ltd., India
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- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
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