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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
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- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Planning Commission, India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
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