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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 previous week, a pattern noted on Monday as well. The main reason for this was the significant decrease in iron ore fixtures. Yesterday, the BDI ended down by 48 points to 2628, while the capesize segment, which traditionally is serving the iron ore market, was down by 92 points to 3389. According to the latest weekly report by Commodore Research, 24 ore fixtures were reported last week, a decline from 33 ore fixtures of the previous week. “Only 12 of last week’s ore fixtures were for capesize vessels, a decline from 24 capesize vessels chartered to haul iron ore during the previous week. Demand for panamax vessels remained firm due to strong demand for coal from Asian importers, but panamax rates came under a large amount of pressure due to the sudden turn in sentiment (discussed in more detail below). Rates for supramax and handysize vessels were able to hold steady due to solid demand for grain and minor bulk cargo” said Commodore.
In terms of spot charter activity, a total of 120 trips were reported (8 less than the previous week), while an additional 17 period fixtures (14 less than the week before) also came to show how much smaller was cargo demand. According to the report, “last week’s sharp decline in period chartering activity is a clear indication of sentiment turning negative due to the Chinese government’s decision to restrict power allocation to steel mills. The 17 period fixtures were down sharply from the trailing four week average of 32 fixtures”. Commenting on the current state of the market, Commodore said the following: “total spot chartering activity remained firm last week despite a decrease in iron ore fixtures. Capesize freight rates are being affected by restrictions in China that have reduced electricity allocation to steel mills. Panamax rates have been partially affected by these restrictions as well, with negative sentiment caused by the restrictions being a factor behind their recent decline. A large amount of panamax vessels continue to be chartered to export coal to Asian buyers however. A higher than usual amount of panamaxes have also been chartered to haul iron ore.
Sentiment has turned negative. Last week’s 17 period fixtures were the lowest amount of weekly period fixtures reported since the week ending July 16. At that time, spot rates were near 2010 lows. Market players have been spooked by the recent decision by the Chinese government to reduce electricity allocation to Chinese steel mills. Their fears are certainly warranted. It remains to be seen how much and how long Chinese steel production will be affected by the electricity restrictions. The restrictions will continue to represent a significant threat to near-term dry bulk freight rates” concluded the report.
Meanwhile, in a separate report by Golden Destiny on the sale and purchase front, it was noted that newbuilding activity rose by 61.2% on a week-to-week basis. As a result of the BDI negative territory, just six dry bulk carriers reportedly changed hands, a weekly drop of 50%. In total the week ended with “15 vessels reported to have changed hands equalling a total amount of money invested around $181,250,000, two secondhand transactions reported on private terms. In the demolition market, 7 vessels have been headed to the scrap yards of total deadweight 236,806 tons, while in 2009 3 vessels reported for scrap indicating a positive yearly change of around 133%.The highest activity has been recorded once again in the newbuilding market with 50 vessels reported to have been ordered equalling a total deadweight around 1,868,755 tons, while at similar week of 2009 only 2 orders have been reported in the offshore sector. In terms of reported number of transactions, the bulk carrier sector domains in the newbulidng business holding around a 52% share of the market with kamsarmax being the most popular vessel type. The Greek presence has calmed down significantly this week in the secondhand market as only 1 transaction reported in the bulk carrier sector equalling a total amount invested around US$ 22,000,000 while the investments of Greeks in the newbuilding sector continue with a remarkable post panamax order in the container sector. In total, 7 units have been ordered by Greeks equalling a total invested capital around US$ 304,978,000, two new building transactions reported on private terms” the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 09 October 10
9TH ASIA PACIFIC MINING CONFERENCE & EXHIBITION 13 14 OCTOBER 2010 AT SHANGRI-LA HOTEL, JAKARTA.
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
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- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
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