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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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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 ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
Saturday, 13 November 10
INDONESIA SHIPPED 8.73 % MORE COAL IN OCTOBER THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23.55 mln mt of coal in October 2010, which is 8.73 percent more compared to Septe ...
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- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
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