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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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Friday, 12 November 10
BANPU'S NET PROFIT HAS INCREASED 249 PERCENT IN 3Q 2010 COMPARED TO THE SAME PERIOD LAST YEAR
COALspot.com: Banpu Public Company Limited (BANPU) reports its financial performance for the third quarter 2010, posting a net profit of THB 13,293 ...
Friday, 12 November 10
DRY BULK MARKET STILL ON A FREEFALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market failed to show any signs of life this week, with the Baltic Dry Index (BDI) still being on the red, now stretching more than 11 ...
Thursday, 11 November 10
KOMIPO WANTS 400KT OF SUB BITUMINOUS COAL
COALspot.com : Korea Midland Power Co. Ltd. (KOMIPO) is looking for 400,000 MT of sub bituminous coal through International open bidding. The delive ...
Wednesday, 10 November 10
NTPC TO IMPORT 12 MILLION TONS OF COAL IN 2011
COALspot.com: India's State Trading Corp Ltd a public sector Govt of India co. is looking for 12 million tones (+/- 2%) of imported coal for NTPC. ...
Tuesday, 09 November 10
NOBLE GROUP APPOINTED AS THE EXCLUSIVE MARKETING AGENT FOR PT. BERAU COAL
COALspot.com: Noble Group Limited has recently been appointed as the exclusive marketing agent for PT. Berau Coal production exported to internation ...
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- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
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