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