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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, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
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- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Planning Commission, India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- White Energy Company Limited
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
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