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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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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Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
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- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
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