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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
Monday, 11 October 10
INDONESIAN POWER PLANTS AND OTHER INDUSTRIES TO BURN 78.97 MLN TONS OF COAL IN 2011
COALspot.com: The Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree 2360 K/30/MEM/ 2010 related to Domestic mark ...
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- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Parliament of New Zealand
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Planning Commission, India
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