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Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to end the session to 2,213 points, still way off its year-highs of more than 4,200 points. But, the negative news –if one could assume them as such – was the slight decline of the capesize segment, which lost 1.50% yesterday. On the upside was the Panamaxes strong gains of 3.88%, which comes to show that last week’s downfall was a bit too much.
According to Fearnley’s latest weekly report, there is indeed a little more positive sentiment in the Panamax market his week in both hemishperes, as some new enquiries in the Atlantic pushed rates a tick up. “Pacific had a more slow beginning but increased somewhat from midweek, 3/5 months period redel ww fixed at usd 20k. Transatlantic r/v arnd 17-18k level while Pacific 16.5k-17k. Fronthaul pending around usd 25-26k while backhaul remain poor if finding cargoes at all at 10k level. Might be we face an end of year effect in the market with charterers selling out their stocks, which can be positive on short term, while the long picture is more uncertain“ said the shipbroker.
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As for the capesize sector it stated that it’s a very quiet week, with mostly repeat business, rate wise, until yesterday when levels were sliding. “The absence of Vale on the front haul leg has effectively prompted the slide. There have been some tight Atlantic positions where vessels have commanded premiums but, this has been for North Atlantic loading and very prompt positions. On the period side, there has been some activity with a good unit fixed at usd 30k daily. Spot coal has also been concluded but the volumes have not been enough to move the market. All in all a colorless week” concluded Fearnley’s.
Meanwhile, in a separate analysis released earlied in the week, Commodore Research & Consultancy mentioned that the last five weeks of declining Chinese steel stockpiles have shown that steel demand remains firm. “Chinese crude steel output reached a 2010 low of 47.95 million tons in September, a decline of 3.69mt (-7%) from 51.64mt produced in August. Prior to September’s output, crude steel production had been averaging 53.56mt per month. Steel output rebounded in October and totaled 50.30mt – but electricity restrictions on
steel mills remain in place and continue to limit production. Chinese steel stockpiles continue to be destocked to make up for restricted output however. Just five weeks ago, Chinese flat and construction steel stockpiles totaled about 15.5 million tons. Since that time, however, stockpiles have decreased by 1.9mt (-12%) as end users have continued to consume a moderate amount of the steel for construction purposes The 13.6mt of flat and construction steel currently stockpiled in China is the lowest level of construction steel stockpiled in China since January. We expect Chinese crude steel production will remain at similar levels for the remainder of the year and stockpiles will likely be destocked a bit more. For now, steel demand in China remains firm” said Commodore.
The other major issue affecting the state of the dry bulk freight market is India’s Karnataka iron ore export ban, which was extended late last week by court order for a period of another six months. The ban has been in place since late July and came as a result of illegal mining and railing. “The ban has resulted in Chinese ore buyers importing more of their ore from Australia and Brazil. These cargoes are primarily shipped on capesize vessels; ore from India is primarily shipped on panamax and supramax vessels. With approximately 25% of India’s iron ore mined in Karnataka, the Karnataka iron ore export has resulted in a significant decline in Indian ore exports. Indian iron ore exports to China (almost all of India’s exported ore goes to China) totaled about 4.75 million tons in September, the lowest amount since November 2008. Indian iron ore exports have decreased steadily since the ban was put in place. Going forward, the export ban will continue to cause China to source a large amount of its iron ore from Australia and Brazil” said Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
Thursday, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
Sunday, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
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- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- White Energy Company Limited
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
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