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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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Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
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- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- The University of Queensland
- Australian Coal Association
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
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