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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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Wednesday, 20 October 10
ADANI THE LARGEST COAL IMPORTER OF INDIA IS NEGOTIATING WITH COAL INDIA LIMITED FOR A SUPPLY AGREEMENT - TOP NEWS
Top News reported that, negotitations are very much on between Adani Enterprises, the biggest coal importer of the country and Coal India Limited, t ...
Wednesday, 20 October 10
UAE FIRM IN INDONESIA RAIL DEAL - GULF NEWS
Gulf News reported that, construction of a 140-kilometre railway in Indonesia, initiated by RAK Minerals and Metals Investments (RMMI) will start ne ...
Wednesday, 20 October 10
CAPESIZES FINDING SUPPORT IN IRON ORE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk ship owners, e ...
Saturday, 16 October 10
BDI WAS MARGINALLY UP BY 2.45 PCT LAST WEEK - VISTAAR SHIPPING
COALspot.com: The BDI seemed to lose the moment compared to last week and was marginally by 2.45 pct and closed at 2,762 points.
Also the Cape in ...
Friday, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
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- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- SMC Global Power, Philippines
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- PTC India Limited - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- The University of Queensland
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
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