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