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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 $25,000/day before finding a floor." In a separate Reuters quote, Peter Norfolk, research director at broker FIS, “the reason behind the slowdown has been energy conservation measures which China has announced. They have told parts of industry including steel mills to cut production and that has had an impact on both on the iron ore demand and the steam coal" said Norfolk, who also mentioned that the market could see another short-term rebound, warning though that conditions remained fairly weak. Maybe this could be a good time for some ship owners to reconsider their stance towards the scrapping of their older vessels, with prices offered from most shipbreakers deemed rather attractive.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
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- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
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