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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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Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
Friday, 26 November 10
INDIA WILL IMPORT 100 MLN TONS OF COAL BY 2012 - LAKSHMINARAYANA
COALspot.com – “India’s coal shortfall will reach 100 million mt by 2011-12”, said Lakshminarayana, Vice Preside ...
Friday, 26 November 10
CHINAS COAL INVENTORY STAYS HIGH FOR 22 MONTHS AT 220 MLN T, ASSOCIATION
Xinhua News Agency reported that, China’s coal inventory has stayed high and unchanged for 22 months to be around 220 million tonnes, reflecti ...
Friday, 26 November 10
DR WOLFGANG CIESLIK TO HEAD GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com – (Press Release): The Management Board of the German Coal Importers Association (Verein der Kohlenimporteure e.V.) has elected D ...
Thursday, 25 November 10
ANALYSIS: COAL SECTOR: VALUE EMERGENCE - THE JAKARTA POST
Coal demand will remain firm due to a build-up of coal-fired power plants in India, China and Indonesia. As a result, we have upgraded our coal pric ...
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- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- London Commodity Brokers - England
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
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