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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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Thursday, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
Wednesday, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
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- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
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