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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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Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Planning Commission, India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
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