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Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the reduced supply, according to SSY Consultancy & Research Ltd., a unit of the world’s second-largest shipbroker. Output cuts by China, the world’s largest steelmaker, will probably continue to the year’s end because of limited power supplies for mills, the nation’s Ministry of Industry and Information Technology said Sept. 15. The reductions are aimed at meeting energy-efficiency targets.
“The resulting widening in steelmaker margins would encourage further production within China once restrictions are lifted and support output in the rest of the world,” SSY Consultancy & Research Ltd. said in a report. Still, the cuts have “unsettled” shipowners’ confidence about immediate demand, it said as the Baltic Dry Index slid for a fifth day.
The index, a gauge of overall measure of commodity shipping costs, slumped 11 percent this week, the most in 10 weeks, according to the London-based Baltic Exchange. Today it fell 61 points, or 2.2 percent, to 2,676 points. Chinese iron-ore purchasing may rise once the restrictions are lifted, SSY Consultancy said.
Daily hire rates for capesize-class ships that typically deliver iron ore, the main steelmaking ingredient, declined 18 percent this week, the biggest slump in nine weeks, according to the Baltic Exchange. Rents dropped 4.3 percent to $33,812 today, leading declines among the four vessel types tracked by the bourse.
Charter costs for smaller panamaxes that also haul coal and grains fell 1.9 percent to $23,525 a day today and supramaxes lost 0.8 percent to $21,041. Handysizes were little changed at $15,964 a day.
SSY Consultancy is a unit of London-based Simpson Spence & Young Ltd.
Source: Alaric Nightingale, Bloomberg,Hellenic Shipping
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Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
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- Bhushan Steel Limited - India
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- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
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- Edison Trading Spa - Italy
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- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
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- Grasim Industreis Ltd - India
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- GMR Energy Limited - India
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- Toyota Tsusho Corporation, Japan
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- Interocean Group of Companies - India
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- AsiaOL BioFuels Corp., Philippines
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- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
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- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
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- Australian Commodity Traders Exchange
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- Directorate General of MIneral and Coal - Indonesia
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- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
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- Australian Coal Association
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- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
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- CNBM International Corporation - China
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- SMG Consultants - Indonesia
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- European Bulk Services B.V. - Netherlands
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- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
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- Sinarmas Energy and Mining - Indonesia
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- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
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- Kohat Cement Company Ltd. - Pakistan
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- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
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- Larsen & Toubro Limited - India
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- Baramulti Group, Indonesia
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- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
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- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
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- Maharashtra Electricity Regulatory Commission - India
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- Planning Commission, India
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