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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, 04 November 10
GVK TALKS WITH MEC FOR INDONESIAN MINES DEAL - DNA INDIA
As reported by DNA India, GVK Power and Infrastructure on Wednesday said it is in talks with Gulf-based MEC Coal to buy its coal mines in Indonesia, ...
Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, du ...
Tuesday, 02 November 10
ADDED VALUE REMAINS STAGNANT - MAJALAH TAMBANG
The improvement of added value of mining products in accordance with mandate of the mining law has not been visible. Minerals and coal are still exp ...
Saturday, 30 October 10
THE SUPRAMAX FREIGHT MARKET THIS WEEK REMAINED ALMOST AT LAST WEEK LEVELS - VISTAAR SINGAPORE
COALspot.com: The freight market this week remained almost at same levels except for Panamax index which was up by 191 points.
The feast/SE Asia ...
Friday, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
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- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Minerals Council of Australia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
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