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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, 19 August 10
INDONESIA EXPORTED 5.93 MLN TON OF COAL TO CHINA AND 3.52 MLN TONS TO INDIA IN JULY
COALspot.com: Indonesia shipped 3.52 million tones of thermal coal to India in July, fell 25.39 percent compared to June's exports of 4.71 million ...
Thursday, 19 August 10
WBPDCL INDIA LAUNCHES SPOT COAL TENDER
COALspot.com: The West Bengal Power Development Corporation Limited (WBPDCL ), A Govt. of West Bengal Enterprise, has launched spot contract tender ...
Thursday, 19 August 10
PANAMAX BACKED BY A STRONGER SHORT PERIOD MARKET AND SUPPORTED BY SOME FRESH REQUIREMENTS - FEARNBULK
Handy
The events of this week have confirmed our assessment of last week i.e. activity gradually picked up in the Atlantic with more enquiry seen ...
Thursday, 19 August 10
CSC TO SHIP COAL FOR NOROCHCHOLAI POWER PLANT
Daily Mirror reported that, coal for the Norochcholai Power Plant will be shipped to the country by the Ceylon Shipping Corporation (CSC) officials ...
Wednesday, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaiku ...
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- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Agrawal Coal Company - India
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