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Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s session of the Baltic Dry Index (BDI), which ended with the main index down by 2.25% to 2,261 points. A similar fall occurred last Friday, which has now brought the market down to three-month low. Capesizes and Panamaxes were the main “losers” of Monday’s new drop. Nevertheless, with Indian iron ore exports recovering , the market offset part of last week’s losses, since a surprising number of vessels were chartered. According to Commodore Research, total of 16 vessels were chartered to haul Indian iron ore last week, an “explosion” compared to just 3 vessels from the previous week and up significantly from the trailing four week average of 5 vessels. Last week marked the largest number of vessels chartered to haul Indian iron ore in any single week this year. “The vast majority of the Indian iron ore fixtures were for supramax vessels; supramax rates are very likely to find support if this trend continues. So far, the Karnataka iron ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.
Still, brokers quoted by Reuters said there was a build-up in capesize availability and less chartering activity this week due to slower Chinese ore imports, which was acting as a drag on capesize rates. The pressure was being compounded by freight derivatives, known as paper, contract selling.
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Meanwhile, another factor which could seriously affect the dry bulk market in the coming weeks and months is the looming Chinese coal shortage. Chinese authorities are expecting a moderate shortage of thermal coal in the upcoming months, with coal supplies likely to be extremely tight in January 2011. Chinese coal demand normally peaks in January due to cold temperatures and a seasonal low in hydropower output. Chinese electricity consumption has declined as the government intended - but going forward, consumption will likely begin to increase again as the nation enters winter. “We continue to expect that Chinese coal imports will set new records in the upcoming months. Our conservative estimates anticipate that Chinese coal imports will total about 16.75mt in November and 17.25mt in December” reported Commodore.
In terms of Chinese steel production, steel mills produced about 50.3 million tons of crude steel in October, an increase of 2.35mt (5%) from 47.95mt produced in September. Steel production has increased as we expected; the 50.3mt actually slightly exceeded our forecast. According to Commodore, the moderate increase in steel production comes as a relief to many participants who were worried that Chinese steel production would remain at low levels due to the ongoing electricity restrictions on steel mills. Just two months ago, Chinese mills produced 51.64mt of crude steel, but production decreased by 7% in September once mill.
started receiving less electricity. Going forward, Chinese steel mills will continue to receive reduced allocations of electricity to due emission concerns and electricity shortages - but steel production will likely remain above September’s low (the 47.95mt of crude steel produced by Chinese steel mills was the lowest amount produced since December 2009). Prospects for near-term steel production have also become more encouraging due to the large amount of Chinese iron ore fixtures reported last week, and due to Chinese steel stockpiles declining for a fourth consecutive week.
As for shipowners’ moves in the second hand market, last week ended with 38 newbuilding orders, with strong activity, as shipbroker Golden Destiny reported. At the same time, the S&P momentum in the tanker continues to remain strong with 9 vessels reported to have changed hands while bulkcarrier transactions although at lower level are still popular. In the secondhand market, 22 vessels reported to have changed hands this week equalling a total amount of money invested around of $267,400,000, with 6 transactions reported on private terms. In terms of reported number of transactions, the S&P activity has been marked with a 33% negative w-o-w change while has been marked with a positive change of 16% comparable with previous year’s weekly S&P activity. The bulkcarrier and tanker sector attracted most interest from the investors’ side, with an investment capital of $ 234,900,000, around 88% share of the total invested capital in the S&P secondhand market.
The Greek presence has been noticed this week only in 2 transactions reported in the secondhand and 2 in the newbuilding market. The preference in the secondhand market was towards a handysize bulkcarrier and an Anchor Handling Supply Vessel from the Offshore sector and in the newbuilding market in the subpanamax container sector, while the total invested capital was around $ 39,000,000 mil and $ 104,000,000 mil respectively.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
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- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- London Commodity Brokers - England
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Planning Commission, India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
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