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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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Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
Tuesday, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
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- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
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