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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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Wednesday, 20 October 10
CANADIAN CHALLENGER ACQUIRES INDONESIAN COAL PROJECT
COALspot.com (Press Release): According to Challenger Deep Resources Corp's website and press release posted on the site, Challenger Deep Res ...
Wednesday, 20 October 10
ADANI THE LARGEST COAL IMPORTER OF INDIA IS NEGOTIATING WITH COAL INDIA LIMITED FOR A SUPPLY AGREEMENT - TOP NEWS
Top News reported that, negotitations are very much on between Adani Enterprises, the biggest coal importer of the country and Coal India Limited, t ...
Wednesday, 20 October 10
UAE FIRM IN INDONESIA RAIL DEAL - GULF NEWS
Gulf News reported that, construction of a 140-kilometre railway in Indonesia, initiated by RAK Minerals and Metals Investments (RMMI) will start ne ...
Saturday, 16 October 10
BDI WAS MARGINALLY UP BY 2.45 PCT LAST WEEK - VISTAAR SHIPPING
COALspot.com: The BDI seemed to lose the moment compared to last week and was marginally by 2.45 pct and closed at 2,762 points.
Also the Cape in ...
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 ...
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- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
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