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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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Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
Saturday, 13 November 10
INDONESIA SHIPPED 8.73 % MORE COAL IN OCTOBER THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23.55 mln mt of coal in October 2010, which is 8.73 percent more compared to Septe ...
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- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- The University of Queensland
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
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