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Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
 The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax segments were higher week on week, with the first gaining 19.22% and the latter 2.77%. Thus, capesize owners had plenty to cheer for in the previous week, a development not quite expected with China effectively out of the market, due to holiday reasons. Still.
As the weekly report from Commodore Research & Consultancy said, “a larger than expected amount of iron ore fixtures came to the market last week which helped propel Cape rates. 31 ore fixtures were reported, only 4 less than the previous week. 24 of the fixtures were for capesize vessels, which was actually 4 more than the previous week. Expectations had been for a moderate decrease in overall ore fixtures due to China’s week-long National Day holiday, but Chinese iron ore fixtures remained relatively firm. A healthy amount of iron ore fixtures from buyers outside of China also helped Cape rates find support. 13 vessels were charted to export iron ore to buyers in countries other than China, 7 more than the trailing four week average. 18 vessels were chartered to export iron ore to buyers in China, 4 less the four week average” said the report.
Meanwhile, iron ore demand and related spot prices have been able to hold steady even as the Chinese government continues to partially restrict electricity allocation to steel mills. These restrictions have lessened recently, though, and going forward Chinese steel mills are expected to slowly increase steel production.
“Market sentiment has slowly improved, evident by last week’s increase in period deals. Market players had previously been spooked by the electricity restrictions in China but iron ore demand has managed to remain relatively firm. Two weeks ago, the 11 period fixtures concluded last week were the lowest amount of period fixtures reported in a single week since the week ending July 16. At that time, dry bulk spot rates were near 2010 lows. Last week marked the first time since early September, however, that week on week period chartering activity increased”. In total, Commodore reports 118 spot trip fixtures for the week (nine less on the week) and 17 period fixtures (six more than the previous week).
In another weekly report, N.Cotzias Shipping Group examined the potential overcapacity of dry bulk tonnage and how it will impact the freight markets. According to Cotzias, the expected ships until the end of 2010 are alarming, with 6 VLOC’s of 1.8 million tons, 61 Capes of 11 million tons, 21 Post Panamaxes of 2.1 million tons, 74 Panamaxes of 6 million tons, 153 Supramaxes of 9 million tons, 7 Handymaxes of 300,000 tons, 201 Handies of 6 million tons and 221 bullkers (between 10,000 and 20,000 dwt) of 2 million tons, not to mention an additional smaller dry bulk carriers (including MPP, General Cargo) of 400,000 tons. In total until the end of the year, the additional carrying capacity of the global dry bulk fleet, based on the expected deliveries should be 38.6 million tons, a figure difficult to be offset by the increased cargo demand. Of course, the economies of the developed world haven’t to contribute to global shipping trades, with China still ruling the fortunes of rates.
For the time being, “the effects in the freight markets of the Russian grain embargo, and the closure of 10 major ports following the Karnataka ban in India, are fairly visible and the added per ton mile, that has altered the typical trading routes seem to have added on the positive side, keeping the freight levels to acceptable, fairly good levels that are for the time being balancing the added influx of tonnage that has already become part of the world active fleet. We expect that this added dynamics of the market together with some much awaited improvement from the developed world, whose economies are not really feeding with steam the global shipping trades, would be the wishful expectations from either Q4 2010 or even better Q1 2011” said Cotzias.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
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- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
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