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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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Thursday, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
Monday, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
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- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
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