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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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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Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
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- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- MS Steel International - UAE
- Economic Council, Georgia
- The University of Queensland
- Jaiprakash Power Ventures ltd
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