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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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Friday, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
Thursday, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
Monday, 11 October 10
INDONESIAN POWER PLANTS AND OTHER INDUSTRIES TO BURN 78.97 MLN TONS OF COAL IN 2011
COALspot.com: The Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree 2360 K/30/MEM/ 2010 related to Domestic mark ...
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- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
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