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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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Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
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- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
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- Romanian Commodities Exchange
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- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
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- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
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- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- VISA Power Limited - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
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