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