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Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
 Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The improvement was mainly due to a surge in demand from the big miners in the Pacific in the later part of the week. However the Capesize 4TC is now hovering around US$25,000 per day, the lowest point since the summer and well down on the average for the year.
In India, Karnataka ore sellers will have to wait until mid January to hear a decision on their bid to overturn the state’s export ban. This week India’s top court gave the state additional time to respond to the miners’ legal petition. The Federation of Indian Mineral Industries has already estimated the ban will reduce India’s ore exports by 38% to 66m tons in 2010. The Karnataka High Court earlier upheld the provincial government’s decision to halt shipments overseas.
Supramax/Handy
The Baltic Supramax Index went down by 57 points to finish at 1,613 points last week, while the average of the time charter routes lost about US$ 600 daily to finish at US$ 16,800 per day. The market was active in the Atlantic but many vessels were turning spot towards the week creating some downward pressure in all basins, mainly in the Black Sea and ECSA. Some support was maintained though as activity continued on sugar and grain due to requirements out of ECSA. Activity remained pretty firm in the USG/USEC region, the main commodities being grain, scrap and petcoke, trading mainly back to the Continent/Med range. On the smaller sizes, the Baltic Handysize index was steady, only gaining 9 points over the week to finish at 839 points, with the time charter routes gaining US$ 839 to reach US$ 12,300 daily.
The TARV was worth US$ 13,500 per day, whereas the Pacific round voyage traded close to US$ 11,000 daily. On the period front, a 58,000 dwt newbuilding fixed ex yard China for one year trading redelivery worldwide at a rate close to US$ 16,500 daily. Short period was getting fixed at US$ 16,000 daily for delivery Far East and redelivery worldwide. For the smaller sizes, Handysize are getting for short period basis delivery Far East numbers in the US$ 12,000 per day region.
Panamax
The Panamax 4TC average lost US$ 2,314 this week and closed on Friday at around US$ 16,000 per day. Rates seemed to be under pressure mainly in the east where Owners began revealing their tonnage in order to find employment over the festive period. Too few fresh cargoes here saw rates drop over US$ 3,000 during the course of the week.
The Atlantic remained firmer with a number of prompt ships and cargoes being covered, however there was an increased reluctance from the Owners to take their vessels back East. Atlantic rates ended the week at US$ 21,000 after dropping around US$ 1,000 on Friday which many attributed to more ships appearing open on the Cont/Med prior to Christmas. Short period activity was relatively scarce last week but a few fixtures indicated that short period levels were close to US$ 17,000 whilst a number of vessels were taken for a period of around two years at US$ 18,000 daily.
Capesize
A marginal increase in the BCI this week as activity in the Pacific picked up slightly on the back of miners’ interest. However this could not be maintained into the new week, and the index lost 50 points on Monday. This has now taken the 4TC down to below the US$ 25,000 per day mark, although some of the softness can be attributed to the wind-down before Christmas. Based on trading in the futures market, rates are expected to continue their drift down in 2011, with 1H 2011 looking slightly more optimistic still than second half. Ship deliveries have slowed at the year end, but we can expect a resurgence in January with many owners postponing their December deliveries to the new year in order to have the more attractive ‘2011 built’ tag.
Source: BRS
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Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
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- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- The University of Queensland
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
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