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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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Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
Monday, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
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- Parliament of New Zealand
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- PTC India Limited - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
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