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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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Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
Saturday, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
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- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
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