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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, 13 September 10
FREIGHT MARKETS MAY BE A BIT SOFT THIS WEEK - VISTAAR SINGAPORE
COALspot.com: The freight market continued its upward trend with the BDI almost touching 3000 points. However the uncertainty seems to continue with ...
Friday, 10 September 10
INDONESIAN RAILWAY CONTRACT STILL UP FOR BIDDING - LOGISTICS WEEK
The tender process for a $2.2bn project to build a coal-transporting railway line in Central Kalimantan province, Indonesia, is still underway and n ...
Friday, 10 September 10
WCI INTO CHINA WITH IRON ORE ARE AIMING AROUND $ 20K - FEARNBULK
Handy
The rates are firm in every corner of the world. However it still looks Atlantic/Baltic/Black Sea offer better employment opportunities for ...
Thursday, 09 September 10
INDIANS BALCO TO BUY 50 K OF 3,000 TO 4,500 GAR CALORIFIC VALUE COAL
COALspot.com: Bharat Aluminium Company Limited (BALCO) is a subsidiary of Sterlite Industries (India) Limited and part of Vedanta Resources PLC, a L ...
Thursday, 09 September 10
INDONESIA SWAPS COAL FOR INFRASTRUCTURE - FT
As Asia’s major economies bound forward and their hunger for energy surges over the next decade, Indonesia is strategically positioned to take ...
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- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Siam City Cement - Thailand
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
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