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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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Saturday, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
...
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 previou ...
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- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
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