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Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
 With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significanlty reduced , pushing the dry bulk market’s benchmark, the Baltic Dry Index (BDI) to new lows, proving that volatility is here to stay. The BDI posted on Wednedsay its eight straight loss-making session, ending 76 points lower to 2486, which is the lowest it’s been in over a month. With iron ore demand waning, the Capesize segment was the one that suffers the most, retreating once again yesterday by 140 points, with the respective Baltic Capesize Index (BCI) now down to 3108 points.
According to the latest weekly report from shipbroker Fearnley’s, “with holidays in China, Japan, Korea and Taiwan the Capesize market has been overall quiet this week. Rates have been dropping day by day and presently AustraliaChina is around USD 10 pmt, and TubaraoQingdao 25ish. After a good number of short period fixtures the past weeks, the period market is presently none existing. FFA values have been dropping, but finding some support at time of writing. With a lot of uncertainty in the market in general and lack of fresh cargoes it is difficult to predict if a floor is found or not. A quiet end of the week is expected” commented the shipbroker.
As for the Panamax “front” the report said that it experienced the same softening in rates as last week. “Some glimmers of hope were present when NoPac rounds suddenly jumped up usd 2000 in one day on Tuesday, but this was just not the trend as the rates declined to the usd 20000 again on Wednesday. We see more grain cargoes from USG, but the ballasters outnumber the cgos causing rates to slip further. With holidays in the Far Eastern countries the activity lvl has dropped as expected, but fronthauls still gets ard low/mid 30´s and tarvs ard low/mid 20´s. It seems that the closing down of Chinese steel mills by government is part of a 5-year energy saving goal set by the Chinese government ending at the end of the year. This explains the sudden and increasing governmental shut down of inefficient steel mills now towards the end of the 5-year period saving plan. This affects the iron ore market and the shipment of same heavily” said Fearnley’s.
Markets in China will stay closed throughout the week for the Mid-Autumn Festival holiday. They also will shut from Oct. 1 to Oct. 7 for the National Day holidays. As a result of that, market analysts and shipbrokers don’t expect any serious shipping activity. This will pull the freight market to even lower levels, before it stages a new rebound later in October.
Meanwhile, according to analysts at Arctic Securities ASA in Oslo, which were quoted in a Bloomberg story: “we view near-term weakness in dry-bulk as likely, with the combination of continued high delivery pace and a soft patch in steel production spelling trouble for the dry-bulk market also longer term”, adding, this time to Reuters, that “with momentum currently working against ship owners, we expect (capesize) rates to soften towards $25,000/day before finding a floor." In a separate Reuters quote, Peter Norfolk, research director at broker FIS, “the reason behind the slowdown has been energy conservation measures which China has announced. They have told parts of industry including steel mills to cut production and that has had an impact on both on the iron ore demand and the steam coal" said Norfolk, who also mentioned that the market could see another short-term rebound, warning though that conditions remained fairly weak. Maybe this could be a good time for some ship owners to reconsider their stance towards the scrapping of their older vessels, with prices offered from most shipbreakers deemed rather attractive.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 02 October 10
FOUR INDONESIAN COAL FIRMS KEEN TO TIE UP WITH NALCO - SIFY
Sify reported that, Four Indonesian coal companies have shown interest to tie up with public sector National Aluminium Company (Nalco) for its 4 bil ...
Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
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- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
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