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Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
 With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significanlty reduced , pushing the dry bulk market’s benchmark, the Baltic Dry Index (BDI) to new lows, proving that volatility is here to stay. The BDI posted on Wednedsay its eight straight loss-making session, ending 76 points lower to 2486, which is the lowest it’s been in over a month. With iron ore demand waning, the Capesize segment was the one that suffers the most, retreating once again yesterday by 140 points, with the respective Baltic Capesize Index (BCI) now down to 3108 points.
According to the latest weekly report from shipbroker Fearnley’s, “with holidays in China, Japan, Korea and Taiwan the Capesize market has been overall quiet this week. Rates have been dropping day by day and presently AustraliaChina is around USD 10 pmt, and TubaraoQingdao 25ish. After a good number of short period fixtures the past weeks, the period market is presently none existing. FFA values have been dropping, but finding some support at time of writing. With a lot of uncertainty in the market in general and lack of fresh cargoes it is difficult to predict if a floor is found or not. A quiet end of the week is expected” commented the shipbroker.
As for the Panamax “front” the report said that it experienced the same softening in rates as last week. “Some glimmers of hope were present when NoPac rounds suddenly jumped up usd 2000 in one day on Tuesday, but this was just not the trend as the rates declined to the usd 20000 again on Wednesday. We see more grain cargoes from USG, but the ballasters outnumber the cgos causing rates to slip further. With holidays in the Far Eastern countries the activity lvl has dropped as expected, but fronthauls still gets ard low/mid 30´s and tarvs ard low/mid 20´s. It seems that the closing down of Chinese steel mills by government is part of a 5-year energy saving goal set by the Chinese government ending at the end of the year. This explains the sudden and increasing governmental shut down of inefficient steel mills now towards the end of the 5-year period saving plan. This affects the iron ore market and the shipment of same heavily” said Fearnley’s.
Markets in China will stay closed throughout the week for the Mid-Autumn Festival holiday. They also will shut from Oct. 1 to Oct. 7 for the National Day holidays. As a result of that, market analysts and shipbrokers don’t expect any serious shipping activity. This will pull the freight market to even lower levels, before it stages a new rebound later in October.
Meanwhile, according to analysts at Arctic Securities ASA in Oslo, which were quoted in a Bloomberg story: “we view near-term weakness in dry-bulk as likely, with the combination of continued high delivery pace and a soft patch in steel production spelling trouble for the dry-bulk market also longer term”, adding, this time to Reuters, that “with momentum currently working against ship owners, we expect (capesize) rates to soften towards $25,000/day before finding a floor." In a separate Reuters quote, Peter Norfolk, research director at broker FIS, “the reason behind the slowdown has been energy conservation measures which China has announced. They have told parts of industry including steel mills to cut production and that has had an impact on both on the iron ore demand and the steam coal" said Norfolk, who also mentioned that the market could see another short-term rebound, warning though that conditions remained fairly weak. Maybe this could be a good time for some ship owners to reconsider their stance towards the scrapping of their older vessels, with prices offered from most shipbreakers deemed rather attractive.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
Thursday, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, ...
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- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
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