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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, 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 ...
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 ...
Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
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- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Planning Commission, India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
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