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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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Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
Monday, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
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- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- The University of Queensland
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Economic Council, Georgia
- Planning Commission, India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
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