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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, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
Monday, 11 October 10
INDONESIAN POWER PLANTS AND OTHER INDUSTRIES TO BURN 78.97 MLN TONS OF COAL IN 2011
COALspot.com: The Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree 2360 K/30/MEM/ 2010 related to Domestic mark ...
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- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
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