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Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
 The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending its 12-day upwards momentum, retreating marginally both on Tuesday and yesterday. The BDI now stands at 1,957 points, down by 7 points or 0.36 percent on a daily basis. Even the panamax segment which had behaved in a healthier manner during these past couple of weeks didn’t manage to edge away, losing yesterday 2.18 percent, with daily average rates for panamax vessels standing at $20,947. On the bright side, the capesize market which had plunged to near break-even levels, below the $10,000 daily mark, continued its positive momentum , rising yesterday by 2.48 percent, with rates now standing at $15,369.
Commenting on the capesize market, the latest weekly report from shipbroker Fearnley’s said that “any enthusiasm visible in the market at the end of last week was washed away as this week opened. The marginal improvements in the Pacific quickly evaporated and fixtures were being concluded in the mid USD 6.00 level after a high of USD 7.00. The front haul activity also was thin, with no fixtures reported until today and a number of early vessels have been fixed at Index levels. This has given the market some faith back and the most recent fixture in the West Australia/China leg is now back at USD 7. 00, and owners also feeling more confident on the front haul leg. Having said this there are still ballasters showing prompt ETAs in Brazil, with little hope of spot cargos becoming available. The week has been quiet on the period front with no fixtures reported”.
Regarding the panamax market, Fearnley’s noted that last week ended quiet, howewer the trend was slowly upwards in both basins. “Atlantic showed more activity and some charterers even struggled to cover prompt requirements. Whilst in Pacific more tonnage coming prompt with limited cargoes to support, looks more uncertain. Owners want to return to Atlantic as activity looks better on short term there. Front haul voyages fixed at USD 31,000 + while TAs reached almost USD 23,000. Pacific rounds under pressure this week, but still concluded around USD 18,000, wheras backhaul still at moderat USD 12,500. Short period marked in Pacific remain quite firm at levels around USD 24,500 for LME´s for 3/5-4/6 months” the broker concluded.
Meanwhile, the latest weekly report by George Moundreas said that the negative impact by the global economical developments in the dry bulk markets is manageable. “The reason for this is that tonnage demand will continue to be supported by old factors like Chinese iron ore imports, which will continue to be higher this year as well, despite any short term volatility, as well as newer factors like China’s coal imports, but most importantly India’s coal imports, which this year alone could very well increase by 250%. In a worldwide level, despite the slowdown, sea transportation of just those two commodities (coal and iron ore) is expected to increase during this year by at least 130 million tons, compared to 2009. This equates to an additional capacity of 100-120 capesize vessel” said the report, compiled by financial analyst George Grigoriadis. To certify that, Brazilian mining giant recently confirmed that the Chinese economy will accelerate its pace during the fourth quarter of the year, with an increase of steel production, while the same is likely to happen with the other major economies for the dry bulk industry, the US and the EU.
Source: Nikos Roussanoglou / Hellenic Shipping
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Wednesday, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
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- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
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