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