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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, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
Pan Asia Corporation Limited has, via Innovation West Pty Ltd, entered into a binding coal purchase & finance agreement with Noble Resources Pte ...
Monday, 23 August 10
THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
COALspot.com: The BDI continued to rise this week by 11.67 pct with the other sectors also keeping the moment. The cape size index also was up by 11 ...
Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
ASEAN Federation of Mining Association (AFMA), an association of mining groups in Southeast Asia, will hold the 9th Asia Pacific Mining Conference a ...
Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has ...
Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
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- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- PTC India Limited - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
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