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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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, 12 November 10
BANPU'S NET PROFIT HAS INCREASED 249 PERCENT IN 3Q 2010 COMPARED TO THE SAME PERIOD LAST YEAR
COALspot.com: Banpu Public Company Limited (BANPU) reports its financial performance for the third quarter 2010, posting a net profit of THB 13,293 ...
Friday, 12 November 10
DRY BULK MARKET STILL ON A FREEFALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market failed to show any signs of life this week, with the Baltic Dry Index (BDI) still being on the red, now stretching more than 11 ...
Thursday, 11 November 10
KOMIPO WANTS 400KT OF SUB BITUMINOUS COAL
COALspot.com : Korea Midland Power Co. Ltd. (KOMIPO) is looking for 400,000 MT of sub bituminous coal through International open bidding. The delive ...
Wednesday, 10 November 10
NTPC TO IMPORT 12 MILLION TONS OF COAL IN 2011
COALspot.com: India's State Trading Corp Ltd a public sector Govt of India co. is looking for 12 million tones (+/- 2%) of imported coal for NTPC. ...
Tuesday, 09 November 10
NOBLE GROUP APPOINTED AS THE EXCLUSIVE MARKETING AGENT FOR PT. BERAU COAL
COALspot.com: Noble Group Limited has recently been appointed as the exclusive marketing agent for PT. Berau Coal production exported to internation ...
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- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Ambuja Cements Ltd - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
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