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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, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
Wednesday, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
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- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
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