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Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
 The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax segments were higher week on week, with the first gaining 19.22% and the latter 2.77%. Thus, capesize owners had plenty to cheer for in the previous week, a development not quite expected with China effectively out of the market, due to holiday reasons. Still.
As the weekly report from Commodore Research & Consultancy said, “a larger than expected amount of iron ore fixtures came to the market last week which helped propel Cape rates. 31 ore fixtures were reported, only 4 less than the previous week. 24 of the fixtures were for capesize vessels, which was actually 4 more than the previous week. Expectations had been for a moderate decrease in overall ore fixtures due to China’s week-long National Day holiday, but Chinese iron ore fixtures remained relatively firm. A healthy amount of iron ore fixtures from buyers outside of China also helped Cape rates find support. 13 vessels were charted to export iron ore to buyers in countries other than China, 7 more than the trailing four week average. 18 vessels were chartered to export iron ore to buyers in China, 4 less the four week average” said the report.
Meanwhile, iron ore demand and related spot prices have been able to hold steady even as the Chinese government continues to partially restrict electricity allocation to steel mills. These restrictions have lessened recently, though, and going forward Chinese steel mills are expected to slowly increase steel production.
“Market sentiment has slowly improved, evident by last week’s increase in period deals. Market players had previously been spooked by the electricity restrictions in China but iron ore demand has managed to remain relatively firm. Two weeks ago, the 11 period fixtures concluded last week were the lowest amount of period fixtures reported in a single week since the week ending July 16. At that time, dry bulk spot rates were near 2010 lows. Last week marked the first time since early September, however, that week on week period chartering activity increased”. In total, Commodore reports 118 spot trip fixtures for the week (nine less on the week) and 17 period fixtures (six more than the previous week).
In another weekly report, N.Cotzias Shipping Group examined the potential overcapacity of dry bulk tonnage and how it will impact the freight markets. According to Cotzias, the expected ships until the end of 2010 are alarming, with 6 VLOC’s of 1.8 million tons, 61 Capes of 11 million tons, 21 Post Panamaxes of 2.1 million tons, 74 Panamaxes of 6 million tons, 153 Supramaxes of 9 million tons, 7 Handymaxes of 300,000 tons, 201 Handies of 6 million tons and 221 bullkers (between 10,000 and 20,000 dwt) of 2 million tons, not to mention an additional smaller dry bulk carriers (including MPP, General Cargo) of 400,000 tons. In total until the end of the year, the additional carrying capacity of the global dry bulk fleet, based on the expected deliveries should be 38.6 million tons, a figure difficult to be offset by the increased cargo demand. Of course, the economies of the developed world haven’t to contribute to global shipping trades, with China still ruling the fortunes of rates.
For the time being, “the effects in the freight markets of the Russian grain embargo, and the closure of 10 major ports following the Karnataka ban in India, are fairly visible and the added per ton mile, that has altered the typical trading routes seem to have added on the positive side, keeping the freight levels to acceptable, fairly good levels that are for the time being balancing the added influx of tonnage that has already become part of the world active fleet. We expect that this added dynamics of the market together with some much awaited improvement from the developed world, whose economies are not really feeding with steam the global shipping trades, would be the wishful expectations from either Q4 2010 or even better Q1 2011” said Cotzias.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
Thursday, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
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- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- CNBM International Corporation - China
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Australian Coal Association
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
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