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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, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
...
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 previou ...
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- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
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