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Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
 The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger capesize counterparts, while the even smaller supramax carriers have the ability to earn just as much as the capesizes. Analysts and brokers had warned about the volatility of the market, as a result of the ever so catalytical factor of the Chinese iron ore imports and their swings of mood. This factor has weighed in more than anything else in the market.
As a result, at the time being the Baltic Dry Index (BDI) keeps on retreating, with yesterday’s session marking yet another tumble, this time under the 3,000 point mark, to end the day at 2,982, down by 39.
According to the latest weekly analysis by Commodore Research, last week’s increase in spot chartering activity is an encouraging sign. Adding to optimism about the market’s prospects are the declining iron ore and coal port stockpile, as is the drop in Chinese steel stockpiles. “Dry bulk commodity prices (iron ore, steel, coal, grain) remain firm and Chinese industrial demand shows little sign of slowing.
In addition, global port congestion is still very high. Capesize freight rates will likely continue to come under pressure and maintain volatility as Chinese steel mills and iron ore miners negotiate iron ore pricing and China changes its short-term import patterns. The rest of the market will be affected and rates for all vessel classes will likely continue to move closer to balance. Overall spot chartering activity, however, is firm and will likely remain at moderate levels which should help dry bulk freight rates find support. Several developments (including a severe drought in southwest China restricting hydropower production and resulting in increase in thermal coal demand, long-haul Colombian thermal coal exports being shipped to India, and a significant rise in congestion at Australian ports, etc) will continue to affect the market” said Commodore.
For instance, port congestion at Australia’s Haypoint and Darlymple Bay coal terminals is now increased to approximately 102 vessels, 14 more than the previous week and almost double the amount of vessels anchored at the ports in early February.
“Approximately 221 vessels are now anchored at Australia’s ports, 21 more than a week ago and 11 more than last year’s record 210 vessels anchored at the ports at the end of December 2009. Rising congestion in Australia (and robust congestion worldwide) will continue to support freight rates, but the latest developments in Australia will also result in an estimated loss of 4 to 8 million tons of Australian coal exports. Coking coal will be most significantly affected, and buyers in Japan and South Korea might soon be forced to import long-haul coking coal from the United States and other longer-haul exporters” said the research.
Additional factors expected to support dry bulk freight rates in the near future include Colombian thermal coal exports to India and the possibility of Indian buyers signing long-term contracts. Also, the ongoing drought in southwestern China has the potential to result in a moderate increase in near-term Chinese thermal coal demand. A large portion of the region’s electricity is normally produced by hydropower generation.
In the upcoming weeks, more thermal coal will likely be railed to the region and additional thermal coal produced electricity will be transported through China’s power grids. It remains to be seen when iron ore fixtures will improve - but disruptions in China and Australia will likely lead to an increase in thermal coal demand and longer-haul shipments of both thermal and coking coal” concludes Commodore Research.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
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- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- MS Steel International - UAE
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
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