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Wednesday, 20 October 10
CAPESIZES FINDING SUPPORT IN IRON ORE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk ship owners, especially those who have invested in the capesize market, as rates improved together with an increase of iron ore fixtures. As a result, Capesize rates are currently averaging $45,279/day, an increase of $4,481 (11%) from a week ago. Meanwhile, yesterday (Monday) the industry’s main benchmark, the Baltic Dry Index (BDI) was on the negative side, albeit just slightly, retreating by 0.22% to 2,756 points, virtually unchanged from the previous Friday.
According to Commodore Research’s latest weekly report there were 33 iron ore fixtures reported during the past week, two more on a weekly basis and up moderately from an average of 28 iron ore fixtures reported during the previous four weeks. Commodore said that “24 of last week’s ore fixtures were for capesize vessels, a historically very large amount and the same amount as during the previous week. Chinese iron ore demand has remained robust - but Chinese steel stockpiles have continued to increase sharply and need to be monitored closely. Demand for coal and grain has remained strong, but panamax vessels have come under pressure partially due to a decrease in congestion at various coal ports. Rates for smaller vessels have continued to remain relatively steady”.
In total, 117 spot trip fixtures (1 less than the previous week) and 15 period fixtures (2 less than the previous week) were reported last week. 6 of the period deals were for one year or more. “Period chartering activity remains at a low level not seen since the middle of July when spot rates were near 2010-lows. Sentiment had been improving recently due to a loosening in Chinese government restrictions on electricity allocation to steel mills – but sentiment for the medium-term remains low due to concerns over the orderbook” said the report. In fact, orderbook concerns continue to weigh very heavily on the collective mind of the market however. In the first two weeks of October, an average of 16 period deals have been reported each week. This is down sharply from an average of 22 weekly period fixtures in September and 33 weekly period fixtures in August. Despite capesize spot rates rising significantly from a few months ago, period activity remains subdued and negative sentiment lingers.
According to Commodore, the recent increase in iron ore fixtures has come primarily as a result of robust demand in China. Chinese steel mills continue to receive greater allocations of electricity and production is slowly increasing. The recent growth in Chinese steel stockpiles must be monitored however. If this steel is not consumed, ore fixtures will likely soon come under pressure (it is possible that the last two weeks of holidays in China have delayed steel shipments to end-users). Going forward, we will publish an update on stockpiles if they change dramatically mid-week.
Meanwhile, another unpredictable development is expected to affect the market, as heavy rain in much of Australia is expected to impact coal supply from Queensland, located to the northeast of the country. Queensland exports a large amount of both thermal and coking coal primarily to buyers in China, South Korea, Japan, and India - but there is a good chance that there will be sporadic delays in coal exports in the upcoming months.
This would result in an increase in port congestion and force buyers to import more coal from less proximate exporters including South Africa, Colombia, and the United States.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
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- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
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