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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 falls, the dry bulk market is fighting for a revival. Yesterday, the industry’s benchmark, the Baltic Dry Index (BDI) kept its downward trend, ending down by 1.10 percent to 2,164 points and as a result, it has now been falling for 16 straight sessions. The index has fallen by more than 20 percent since the beginning of this demise, which was on the 28th of October.
Still, some positive development could be seen by the change of tide in the capesize market, where sentiment is coming back, as proven by the past couple of days of trading, when capesize managed to end their fall and even post some slight gains. But it wasn’t iron ore demand (which is still subdued) that trigerred the change, but instead it wal rising coal demand.
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According to Fearnley’s latest weekly report, “after a week with weaker rates and a negative sentiment, the bottom seems to have been reached in the capesize sector around low usd 10s pmt for west Australia to China and around usd 27 pmt for Tubarao/Qingdao. The main reason why we seeing rates more stable, is a more balanced supply and demand in the Atlantic and finally more TA coal cargoes. As winter is arriving, increased coal trade is further expected. However fronthaul cargoes account Vale along with spot fronthaul cargoes account Chinese is more or less none existing. Period activity and rates in general will remain dull until this change” said the report.
As for the Panamax, the “market continued its nervous tendency with rates still slipping. Last week LMEs fixed in the usd 17000 level for Atlantic biz, now with more spot tonnage open this week, the fixing levels hovering in the low usd 15000. The ballasters from India/Pacific Ocean are still fighting with the tonnage in the Atlantic for fronthaul cargoes, which pushing the rates down around $1500, to high $25000 levels. In the east the rates continued to slide, which gave Pacific rounds levels at usd 18000, down $3000. Backhauls remains more or less unchanged at $11000” said Fearnley’s.
Meanwhile, in a mid-week note released from Jeffrey Landsberg, analyst with Commodore Research & Consultancy, there’a another mention on the factor of Indian iron ore. Commodore had said early this week, that a surprising number of vessels was chartered to export iron ore form India last week, with 16 vessels in total. This represents a sharp increase from only three vessels chartered to haul Indian iron ore during the previous week and up significantly from a trailing four week average of 5 vessels. Last week actually marked the largest number of vessels chartered to haul Indian iron ore in any single week this year - an impressive feat considering the current downturn in the market.
“So far this week, only 2 vessels have been chartered to haul Indian iron ore. Indian iron ore fixture activity has returned to levels seen before last week's surge. The Karnataka iron ore export ban remains intact - but last week's surge in Indian iron ore fixtures remains intriguing. Since such a large increase in Indian iron ore fixtures came to the market, it was possible that signs were surfacing of an end to the Karnataka iron ore export ban. This is not the case yet. The Karnataka iron ore export ban continues, and the sudden surge in Indian iron ore fixtures has ended” said Commodore.
Another issue that is troubling ship owners and ship brokers alike is the speculation that China will raise interest rates, maybe even today (Friday), on an effort to tame inflation and an overheating of the econonmy. This development could very well result in a reduction of iron ore imports, which could lead freight rates to even lower ground. Meanwhile, as has been the case each times the BDI falls to new lows, some ship owners are contemplating phasing out their oldest dry bulk carriers. This could lead to an easing off of oversupply issues, which have become more evident than ever during the second half of the year.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
Friday, 26 November 10
INDIA WILL IMPORT 100 MLN TONS OF COAL BY 2012 - LAKSHMINARAYANA
COALspot.com – “India’s coal shortfall will reach 100 million mt by 2011-12”, said Lakshminarayana, Vice Preside ...
Friday, 26 November 10
CHINAS COAL INVENTORY STAYS HIGH FOR 22 MONTHS AT 220 MLN T, ASSOCIATION
Xinhua News Agency reported that, China’s coal inventory has stayed high and unchanged for 22 months to be around 220 million tonnes, reflecti ...
Friday, 26 November 10
DR WOLFGANG CIESLIK TO HEAD GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com – (Press Release): The Management Board of the German Coal Importers Association (Verein der Kohlenimporteure e.V.) has elected D ...
Thursday, 25 November 10
ANALYSIS: COAL SECTOR: VALUE EMERGENCE - THE JAKARTA POST
Coal demand will remain firm due to a build-up of coal-fired power plants in India, China and Indonesia. As a result, we have upgraded our coal pric ...
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- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Independent Power Producers Association of India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- The University of Queensland
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
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