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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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Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
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- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
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