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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, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
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- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Planning Commission, India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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