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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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Thursday, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
Wednesday, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
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- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- PTC India Limited - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Australian Coal Association
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
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