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Friday, 29 October 10
CHINA'S COAL DEMAND DRIVES DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market is posting marginal, yet steady growth this week, with the Baltic Dry Index rising yesterday to 2784 points, up by 0.2%. Both the capesize and the panamax markets were higher, on signs of growing coal demand from China, a trend which boosted the panamax market in particular. At the same time a healthy iron ore demand again from Chinese steelmakers has helped the capesize segment retain its recent gains. According to the latest weekly report from shipbroker Fearnley’s “the Panamax market took a turn this week with rates increasing in both hemispheres. The FFA market helped the period market with rising values on Monday and flattened a bit on Tuesday. It is especially the shortage in prompt positions that push the rates upwards and in the Pacific several owners ballast into the USG helping the Pacific market further. The Pacific round voyages are now done in the region of low/mid 20´s while the Tarv´s are being fixed in the region of high teens. Fronthauls fetching high 20´s and for the short periods owners are very bullish asking ard mid 20´s. We expect the market to continue its strengthening as the Cape rates continue to increase and we see more split cargoes being quoted” said the broker.
Meanwhile, Petter Rishovd, head of commodities with Pareto Securities was quoted by Reuters as saying that “over the last few weeks we’ve seen very strong capesize fixtures. People are talking about a cold winter in China and we see more coal going to China on panamaxes and that will definitely help that market. It does not seem like the spot market will collapse," Rishovd said.
Commenting on the capesize market, Fearnley’s said that after a continued stable and firm Cape market, it started to break though the upwards resistance level of USD 40k daily for spot cargos in the Pacific. “The BCI has risen from 4363 to 4461, an average T/C improvement of USD 667/day. This surprisingly as Vale concluded the business they were planning for November by Tuesday last week, and have since been absent from the market. The Atlantic market has continued to pay a premium over the Pacific, but volumes have been low with good balance between tonnage and demand. What has driven the fronthaul T/C market has been the N.Atlantic ore market with several Narvik and St. Lawrence cargos being fixed at rates close to USD 70k, a level Brazil has not been able to compete with. In the Pacific, the Miners have continued to be active and although the Atlantic is now showing signs of softening, this market is still moving upwards, and rates in the upper USD 12´s are being paid for W.Australia cargos - this equates to USD 41k/day” concluded the shipbroker’s report.
So far so good then for the market, but one can’t help but notice that ship demolition activity has dropped dramatically as shipping rates rebounded to profitable levels. According to a Morningstar report, “through the first nine months of 2010, owners have scrapped approximately 4.2 million deadweight tons of capacity, or about 470,000 tons per month. This figure compares to nearly 820,000 tons scrapped monthly in 2009, on average, and 433,000 tons per month in 2008. Although nearly 15% of the world's fleet is older than 25 years (a typical life of a vessel), we continue to believe that scrapping will play the part of a buffer against prolonged hampered rates rather than a catalyst toward astronomical rate hikes.
When we combine all of these figures, we think that even if the dry-bulk shipping industry sees increased vessel demolition combined with cancellations and slippage that reach 50% of the scheduled deliveries, the fleet is slated to climb more than 10% in 2011. More worrisome, the expected drop-off in supply growth beginning in 2012 and beyond could face pressure if owners continue to order in abundance” said the analysis.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
Wednesday, 27 October 10
TNPL TO AWARD 240,000 MT COAL SUPPLY CONTRACT TO COAL & OIL
COALspot.com: Tamil Nadu Newsprint Papers Limited, Tamil Nadu state owned Newsprint and Printing & Writing Paper producer has opened a coal purc ...
Wednesday, 27 October 10
CHINA AIDS RUSSIA IN DEVELOPING COAL RESOURCES - PEOPLE'S DAILY
People's Daily reported that, Russia will use 6 billion U.S. dollars in loans provided by China to develop coal resources in Sakhalin Island, Elege ...
Wednesday, 27 October 10
MAIDEN COAL SHIPMENTS TO NOBLE RESOURCES - PAN ASIA AUSTRALIA
Press Release :
First Coal Shipments made from Nadvara Coal Project, East Kalimantan
51,616 tonnes delivered from October production &ndas ...
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 ...
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- Australian Coal Association
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
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