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Friday, 29 October 10
CHINA'S COAL DEMAND DRIVES DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market is posting marginal, yet steady growth this week, with the Baltic Dry Index rising yesterday to 2784 points, up by 0.2%. Both the capesize and the panamax markets were higher, on signs of growing coal demand from China, a trend which boosted the panamax market in particular. At the same time a healthy iron ore demand again from Chinese steelmakers has helped the capesize segment retain its recent gains. According to the latest weekly report from shipbroker Fearnley’s “the Panamax market took a turn this week with rates increasing in both hemispheres. The FFA market helped the period market with rising values on Monday and flattened a bit on Tuesday. It is especially the shortage in prompt positions that push the rates upwards and in the Pacific several owners ballast into the USG helping the Pacific market further. The Pacific round voyages are now done in the region of low/mid 20´s while the Tarv´s are being fixed in the region of high teens. Fronthauls fetching high 20´s and for the short periods owners are very bullish asking ard mid 20´s. We expect the market to continue its strengthening as the Cape rates continue to increase and we see more split cargoes being quoted” said the broker.
Meanwhile, Petter Rishovd, head of commodities with Pareto Securities was quoted by Reuters as saying that “over the last few weeks we’ve seen very strong capesize fixtures. People are talking about a cold winter in China and we see more coal going to China on panamaxes and that will definitely help that market. It does not seem like the spot market will collapse," Rishovd said.
Commenting on the capesize market, Fearnley’s said that after a continued stable and firm Cape market, it started to break though the upwards resistance level of USD 40k daily for spot cargos in the Pacific. “The BCI has risen from 4363 to 4461, an average T/C improvement of USD 667/day. This surprisingly as Vale concluded the business they were planning for November by Tuesday last week, and have since been absent from the market. The Atlantic market has continued to pay a premium over the Pacific, but volumes have been low with good balance between tonnage and demand. What has driven the fronthaul T/C market has been the N.Atlantic ore market with several Narvik and St. Lawrence cargos being fixed at rates close to USD 70k, a level Brazil has not been able to compete with. In the Pacific, the Miners have continued to be active and although the Atlantic is now showing signs of softening, this market is still moving upwards, and rates in the upper USD 12´s are being paid for W.Australia cargos - this equates to USD 41k/day” concluded the shipbroker’s report.
So far so good then for the market, but one can’t help but notice that ship demolition activity has dropped dramatically as shipping rates rebounded to profitable levels. According to a Morningstar report, “through the first nine months of 2010, owners have scrapped approximately 4.2 million deadweight tons of capacity, or about 470,000 tons per month. This figure compares to nearly 820,000 tons scrapped monthly in 2009, on average, and 433,000 tons per month in 2008. Although nearly 15% of the world's fleet is older than 25 years (a typical life of a vessel), we continue to believe that scrapping will play the part of a buffer against prolonged hampered rates rather than a catalyst toward astronomical rate hikes.
When we combine all of these figures, we think that even if the dry-bulk shipping industry sees increased vessel demolition combined with cancellations and slippage that reach 50% of the scheduled deliveries, the fleet is slated to climb more than 10% in 2011. More worrisome, the expected drop-off in supply growth beginning in 2012 and beyond could face pressure if owners continue to order in abundance” said the analysis.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
Wednesday, 27 October 10
TNPL TO AWARD 240,000 MT COAL SUPPLY CONTRACT TO COAL & OIL
COALspot.com: Tamil Nadu Newsprint Papers Limited, Tamil Nadu state owned Newsprint and Printing & Writing Paper producer has opened a coal purc ...
Wednesday, 27 October 10
CHINA AIDS RUSSIA IN DEVELOPING COAL RESOURCES - PEOPLE'S DAILY
People's Daily reported that, Russia will use 6 billion U.S. dollars in loans provided by China to develop coal resources in Sakhalin Island, Elege ...
Wednesday, 27 October 10
MAIDEN COAL SHIPMENTS TO NOBLE RESOURCES - PAN ASIA AUSTRALIA
Press Release :
First Coal Shipments made from Nadvara Coal Project, East Kalimantan
51,616 tonnes delivered from October production &ndas ...
Tuesday, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
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- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
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