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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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Thursday, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
Thursday, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
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- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- The University of Queensland
- Petron Corporation, Philippines
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
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