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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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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Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
Saturday, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
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- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- PTC India Limited - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- White Energy Company Limited
- Posco Energy - South Korea
- Medco Energi Mining Internasional
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