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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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- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- White Energy Company Limited
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
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