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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, 20 October 10
ADANI THE LARGEST COAL IMPORTER OF INDIA IS NEGOTIATING WITH COAL INDIA LIMITED FOR A SUPPLY AGREEMENT - TOP NEWS
Top News reported that, negotitations are very much on between Adani Enterprises, the biggest coal importer of the country and Coal India Limited, t ...
Wednesday, 20 October 10
UAE FIRM IN INDONESIA RAIL DEAL - GULF NEWS
Gulf News reported that, construction of a 140-kilometre railway in Indonesia, initiated by RAK Minerals and Metals Investments (RMMI) will start ne ...
Wednesday, 20 October 10
CAPESIZES FINDING SUPPORT IN IRON ORE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk ship owners, e ...
Saturday, 16 October 10
BDI WAS MARGINALLY UP BY 2.45 PCT LAST WEEK - VISTAAR SHIPPING
COALspot.com: The BDI seemed to lose the moment compared to last week and was marginally by 2.45 pct and closed at 2,762 points.
Also the Cape in ...
Friday, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
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- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
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