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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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Friday, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
Thursday, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
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- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Australian Coal Association
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Attock Cement Pakistan Limited
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