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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, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
Tuesday, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
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- Australian Coal Association
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- The University of Queensland
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
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