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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 $25,000/day before finding a floor." In a separate Reuters quote, Peter Norfolk, research director at broker FIS, “the reason behind the slowdown has been energy conservation measures which China has announced. They have told parts of industry including steel mills to cut production and that has had an impact on both on the iron ore demand and the steam coal" said Norfolk, who also mentioned that the market could see another short-term rebound, warning though that conditions remained fairly weak. Maybe this could be a good time for some ship owners to reconsider their stance towards the scrapping of their older vessels, with prices offered from most shipbreakers deemed rather attractive.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 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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- Indonesian Coal Mining Association
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
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