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