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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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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Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
Tuesday, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
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- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- VISA Power Limited - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
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