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Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
 The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previous week, a pattern noted on Monday as well. The main reason for this was the significant decrease in iron ore fixtures. Yesterday, the BDI ended down by 48 points to 2628, while the capesize segment, which traditionally is serving the iron ore market, was down by 92 points to 3389. According to the latest weekly report by Commodore Research, 24 ore fixtures were reported last week, a decline from 33 ore fixtures of the previous week. “Only 12 of last week’s ore fixtures were for capesize vessels, a decline from 24 capesize vessels chartered to haul iron ore during the previous week. Demand for panamax vessels remained firm due to strong demand for coal from Asian importers, but panamax rates came under a large amount of pressure due to the sudden turn in sentiment (discussed in more detail below). Rates for supramax and handysize vessels were able to hold steady due to solid demand for grain and minor bulk cargo” said Commodore.
In terms of spot charter activity, a total of 120 trips were reported (8 less than the previous week), while an additional 17 period fixtures (14 less than the week before) also came to show how much smaller was cargo demand. According to the report, “last week’s sharp decline in period chartering activity is a clear indication of sentiment turning negative due to the Chinese government’s decision to restrict power allocation to steel mills. The 17 period fixtures were down sharply from the trailing four week average of 32 fixtures”. Commenting on the current state of the market, Commodore said the following: “total spot chartering activity remained firm last week despite a decrease in iron ore fixtures. Capesize freight rates are being affected by restrictions in China that have reduced electricity allocation to steel mills. Panamax rates have been partially affected by these restrictions as well, with negative sentiment caused by the restrictions being a factor behind their recent decline. A large amount of panamax vessels continue to be chartered to export coal to Asian buyers however. A higher than usual amount of panamaxes have also been chartered to haul iron ore.
Sentiment has turned negative. Last week’s 17 period fixtures were the lowest amount of weekly period fixtures reported since the week ending July 16. At that time, spot rates were near 2010 lows. Market players have been spooked by the recent decision by the Chinese government to reduce electricity allocation to Chinese steel mills. Their fears are certainly warranted. It remains to be seen how much and how long Chinese steel production will be affected by the electricity restrictions. The restrictions will continue to represent a significant threat to near-term dry bulk freight rates” concluded the report.
Meanwhile, in a separate report by Golden Destiny on the sale and purchase front, it was noted that newbuilding activity rose by 61.2% on a week-to-week basis. As a result of the BDI negative territory, just six dry bulk carriers reportedly changed hands, a weekly drop of 50%. In total the week ended with “15 vessels reported to have changed hands equalling a total amount of money invested around $181,250,000, two secondhand transactions reported on private terms. In the demolition market, 7 vessels have been headed to the scrap yards of total deadweight 236,806 tons, while in 2009 3 vessels reported for scrap indicating a positive yearly change of around 133%.The highest activity has been recorded once again in the newbuilding market with 50 vessels reported to have been ordered equalling a total deadweight around 1,868,755 tons, while at similar week of 2009 only 2 orders have been reported in the offshore sector. In terms of reported number of transactions, the bulk carrier sector domains in the newbulidng business holding around a 52% share of the market with kamsarmax being the most popular vessel type. The Greek presence has calmed down significantly this week in the secondhand market as only 1 transaction reported in the bulk carrier sector equalling a total amount invested around US$ 22,000,000 while the investments of Greeks in the newbuilding sector continue with a remarkable post panamax order in the container sector. In total, 7 units have been ordered by Greeks equalling a total invested capital around US$ 304,978,000, two new building transactions reported on private terms” the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
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- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Mercator Lines Limited - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
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