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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, 12 August 10
ETA STAR INDIA PUTS FORWARD COAL MINING PLAN FOR TETE, MOZAMBIQUE, IN 2011
ETA Star India Projects Pvt, which is carrying out coal prospecting and surveying work in the Moatize coal region, in Tete province, will present it ...
Thursday, 12 August 10
SUPRAS WERE FIXED IN THE MID/HIGH TEENS FOR INDO-INDIA TRIPS - FEARNBULK
Handy
Activity is gradually picking up in the Atlantic with more enquiries seen for short period tonnage for the end of August. With the grain sea ...
Thursday, 12 August 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 94.86 FOR AUGUST 2010 SUPPLIES
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Wednesday, 11 August 10
BRAZILIAN GIANT VALE LOOKING TO BOOST ITS COAL OUTPUT
BRAZILIAN mining giant Vale is not content with being the world's largest iron ore miner. The miner is banking on ambitious growth plans to see it ...
Wednesday, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- The University of Queensland
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
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