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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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Thursday, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
Thursday, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
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- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- PTC India Limited - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- ASAPP Information Group - India
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