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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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Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
Wednesday, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
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- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Siam City Cement - Thailand
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
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