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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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Thursday, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
Thursday, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, ...
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- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- The University of Queensland
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
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