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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, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
Thursday, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
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- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Planning Commission, India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
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