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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, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
Monday, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
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- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Australian Coal Association
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- White Energy Company Limited
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
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