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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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Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
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- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
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