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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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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- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
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