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Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s session of the Baltic Dry Index (BDI), which ended with the main index down by 2.25% to 2,261 points. A similar fall occurred last Friday, which has now brought the market down to three-month low. Capesizes and Panamaxes were the main “losers” of Monday’s new drop. Nevertheless, with Indian iron ore exports recovering , the market offset part of last week’s losses, since a surprising number of vessels were chartered. According to Commodore Research, total of 16 vessels were chartered to haul Indian iron ore last week, an “explosion” compared to just 3 vessels from the previous week and up significantly from the trailing four week average of 5 vessels. Last week marked the largest number of vessels chartered to haul Indian iron ore in any single week this year. “The vast majority of the Indian iron ore fixtures were for supramax vessels; supramax rates are very likely to find support if this trend continues. So far, the Karnataka iron ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.
Still, brokers quoted by Reuters said there was a build-up in capesize availability and less chartering activity this week due to slower Chinese ore imports, which was acting as a drag on capesize rates. The pressure was being compounded by freight derivatives, known as paper, contract selling.
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Meanwhile, another factor which could seriously affect the dry bulk market in the coming weeks and months is the looming Chinese coal shortage. Chinese authorities are expecting a moderate shortage of thermal coal in the upcoming months, with coal supplies likely to be extremely tight in January 2011. Chinese coal demand normally peaks in January due to cold temperatures and a seasonal low in hydropower output. Chinese electricity consumption has declined as the government intended - but going forward, consumption will likely begin to increase again as the nation enters winter. “We continue to expect that Chinese coal imports will set new records in the upcoming months. Our conservative estimates anticipate that Chinese coal imports will total about 16.75mt in November and 17.25mt in December” reported Commodore.
In terms of Chinese steel production, steel mills produced about 50.3 million tons of crude steel in October, an increase of 2.35mt (5%) from 47.95mt produced in September. Steel production has increased as we expected; the 50.3mt actually slightly exceeded our forecast. According to Commodore, the moderate increase in steel production comes as a relief to many participants who were worried that Chinese steel production would remain at low levels due to the ongoing electricity restrictions on steel mills. Just two months ago, Chinese mills produced 51.64mt of crude steel, but production decreased by 7% in September once mill.
started receiving less electricity. Going forward, Chinese steel mills will continue to receive reduced allocations of electricity to due emission concerns and electricity shortages - but steel production will likely remain above September’s low (the 47.95mt of crude steel produced by Chinese steel mills was the lowest amount produced since December 2009). Prospects for near-term steel production have also become more encouraging due to the large amount of Chinese iron ore fixtures reported last week, and due to Chinese steel stockpiles declining for a fourth consecutive week.
As for shipowners’ moves in the second hand market, last week ended with 38 newbuilding orders, with strong activity, as shipbroker Golden Destiny reported. At the same time, the S&P momentum in the tanker continues to remain strong with 9 vessels reported to have changed hands while bulkcarrier transactions although at lower level are still popular. In the secondhand market, 22 vessels reported to have changed hands this week equalling a total amount of money invested around of $267,400,000, with 6 transactions reported on private terms. In terms of reported number of transactions, the S&P activity has been marked with a 33% negative w-o-w change while has been marked with a positive change of 16% comparable with previous year’s weekly S&P activity. The bulkcarrier and tanker sector attracted most interest from the investors’ side, with an investment capital of $ 234,900,000, around 88% share of the total invested capital in the S&P secondhand market.
The Greek presence has been noticed this week only in 2 transactions reported in the secondhand and 2 in the newbuilding market. The preference in the secondhand market was towards a handysize bulkcarrier and an Anchor Handling Supply Vessel from the Offshore sector and in the newbuilding market in the subpanamax container sector, while the total invested capital was around $ 39,000,000 mil and $ 104,000,000 mil respectively.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
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- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Ministry of Mines - Canada
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