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