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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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- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
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