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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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Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
Wednesday, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
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- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Australian Coal Association
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Planning Commission, India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
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