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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, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
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- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
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