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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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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Thursday, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
Wednesday, 20 October 10
CANADIAN CHALLENGER ACQUIRES INDONESIAN COAL PROJECT
COALspot.com (Press Release): According to Challenger Deep Resources Corp's website and press release posted on the site, Challenger Deep Res ...
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- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- The University of Queensland
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
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