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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, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
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- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- The University of Queensland
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
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