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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 2,748 points or by 1.07% on a daily basis. According to shipbrokers and analysts, this development has to be attributed to the higher Capesize demand, on account of the increase of Chinese iron ore enquiries. According to the latest weekly report from Fearnley’s, the capesize segment keeps showing strength on the back of Chinese stock-building combined with limited tonnage availability, particularly in the Atlantic.
“With Pacific pretty remaining the sole provider of early tonnage for both basins, levels obtained for transatlantic and north Atlantic business soar. Fronthaul rates are approaching USD 70k, up some 16% w-o-w, whilst Pacific rounds are stable at just below USD 40k. Paper is supporting period activity to a certain extent, so far this week resulting in a handful of standard BCI units done for short periods in the region of USD 33,500-34, 500/day. Longer periods of 11-13 mos have been concluded twice, last on 180,000 dwt/built 2010 ex yard October at USD 31,500. Judging from the considerable number of tonnage providers looking to secure period employment, the most common forward market view appears to include a discount to present levels” said the shipbroker.
On the Panamax front a lack of fresh requirements gave charterers the possibility to pick and choose of tonnage, especially in USG and MED markets. “The TA market dropped slightly, around USD 500 from last week. Fixing in the USD 18,500 range. In the Pacific the supply of spot tonnage has increased and little fresh requirement seen. Pac rounds fixing around USD 18,000. Fronthaul and backhaul kept stable at respectively USD 28,000 / USD 10,000. Period market has gone silent as sentiment turned more bearish and FFA market traded down although on low volumes.
Based on a Reuters article, brokers reported hopes that firmer U.S. grains export activity, helped by a Russian grain export ban, would provide support to the smaller ships later this year. Analysts said freight rates would be dampened this year by the pace at which new ships are set to enter the market this year and next, despite indications of some vessel cancellations and delays.
Meanwhile, in the newbuilding orders market, things are looking bright, despite the oversupply issues. Clarksons said in its weekly analysis that “currency fluctuations and their effect on pricing have been a major topic of debate recently, with yards in both Japan and China facing upward pricing pressures due to the strength of their respective currencies. There seems to be little chance of this relenting in the short term, with Japan this week stating it would not actively devalue its currency as it looks to move its economy away from its dependence on exports.
Chinese pricing is also now starting to show signs of firming in response to a continually appreciating RMB - and whilst it has been the competitive pricing offered from Chinese yards that has been instrumental in driving the Chinese newbuilding market in the past few months, it will be interesting to note if their own currency exposure results in this price gap advantage being further eroded - and whether the demand side of the market will continue to support firming Chinese values” concluded Clarksons.
In terms of reported business: In Wet, SK Shipping are reported to have ordered 4 x 319,000dwt VLCC tankers at Hyundai Heavy Industries which will be delivered in 2012 and 2013. In Dry, Classic Maritime have signed 2 x 206,000dwt Capesize bulk carriers at Shanghai Waigaoqiao for delivery in 2013. Taizhou Catic are understood to have signed a deal with an unknown owner for 2 option 2 x 82,000dwt Kamsarmax bulkers with the firm vessels set for delivery on 2012. Finally Jiangsu Eastern are reported to have signed two deals, both for delivery in 2012, one with Pitiousa Shipping for 1 x 95,000dwt bulker and another with a domestic buyer for 5 x 47,500dwt bulk carriers.
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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- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- The University of Queensland
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
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