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Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of falls, the dry bulk market is fighting for a revival. Yesterday, the industry’s benchmark, the Baltic Dry Index (BDI) kept its downward trend, ending down by 1.10 percent to 2,164 points and as a result, it has now been falling for 16 straight sessions. The index has fallen by more than 20 percent since the beginning of this demise, which was on the 28th of October.
Still, some positive development could be seen by the change of tide in the capesize market, where sentiment is coming back, as proven by the past couple of days of trading, when capesize managed to end their fall and even post some slight gains. But it wasn’t iron ore demand (which is still subdued) that trigerred the change, but instead it wal rising coal demand.
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According to Fearnley’s latest weekly report, “after a week with weaker rates and a negative sentiment, the bottom seems to have been reached in the capesize sector around low usd 10s pmt for west Australia to China and around usd 27 pmt for Tubarao/Qingdao. The main reason why we seeing rates more stable, is a more balanced supply and demand in the Atlantic and finally more TA coal cargoes. As winter is arriving, increased coal trade is further expected. However fronthaul cargoes account Vale along with spot fronthaul cargoes account Chinese is more or less none existing. Period activity and rates in general will remain dull until this change” said the report.
As for the Panamax, the “market continued its nervous tendency with rates still slipping. Last week LMEs fixed in the usd 17000 level for Atlantic biz, now with more spot tonnage open this week, the fixing levels hovering in the low usd 15000. The ballasters from India/Pacific Ocean are still fighting with the tonnage in the Atlantic for fronthaul cargoes, which pushing the rates down around $1500, to high $25000 levels. In the east the rates continued to slide, which gave Pacific rounds levels at usd 18000, down $3000. Backhauls remains more or less unchanged at $11000” said Fearnley’s.
Meanwhile, in a mid-week note released from Jeffrey Landsberg, analyst with Commodore Research & Consultancy, there’a another mention on the factor of Indian iron ore. Commodore had said early this week, that a surprising number of vessels was chartered to export iron ore form India last week, with 16 vessels in total. This represents a sharp increase from only three vessels chartered to haul Indian iron ore during the previous week and up significantly from a trailing four week average of 5 vessels. Last week actually marked the largest number of vessels chartered to haul Indian iron ore in any single week this year - an impressive feat considering the current downturn in the market.
“So far this week, only 2 vessels have been chartered to haul Indian iron ore. Indian iron ore fixture activity has returned to levels seen before last week's surge. The Karnataka iron ore export ban remains intact - but last week's surge in Indian iron ore fixtures remains intriguing. Since such a large increase in Indian iron ore fixtures came to the market, it was possible that signs were surfacing of an end to the Karnataka iron ore export ban. This is not the case yet. The Karnataka iron ore export ban continues, and the sudden surge in Indian iron ore fixtures has ended” said Commodore.
Another issue that is troubling ship owners and ship brokers alike is the speculation that China will raise interest rates, maybe even today (Friday), on an effort to tame inflation and an overheating of the econonmy. This development could very well result in a reduction of iron ore imports, which could lead freight rates to even lower ground. Meanwhile, as has been the case each times the BDI falls to new lows, some ship owners are contemplating phasing out their oldest dry bulk carriers. This could lead to an easing off of oversupply issues, which have become more evident than ever during the second half of the year.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
Wednesday, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
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- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Economic Council, Georgia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
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