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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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- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- White Energy Company Limited
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
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