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