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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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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Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
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- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
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