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Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
 Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus that the falling pattern set since late May, might be coming to a halt. Yesterday, the Baltic Dry Index (BDI) was down by 19 points to 2,482, but the industry’s benchmark, the capesize segment of the market retreated by just one point, virtually unchanged .
The BCI (Baltic Capesize Index) is again trading at 2716 points, way lower than the Panamax index, which stands at 2977. As brokers have pointed out in the past, every time this pattern appears, the market looks set for a rebound.
According to the latest weekly report by Commodore Research & Analysis, dry bulk rates appear to be finally finding support.
“Capesize rates fell 18% week-on-week but reversed their fall by the end of the week due to moderate iron ore demand from China. 20 vessels were reportedly fixed to export iron ore, 3 less than the previous week. 13 of the ore fixtures were for Capesize vessels; a large amount of Capes also continue to be fixed to ship coal to buyers in Asia and Europe. Panamax freight rates have been able to find the most support due to firm European coal demand, robust Asian thermal coal demand, and moderate global grain demand.
Freight rates for the two smallest vessels continued to come under moderate pressure. With iron ore and coal demand still firm, and Supramax and Panamax rates basically on par with Capesize rates, Capesize rates could soon find more support Capesize rates are currently averaging $24,283/day, a decrease of $5,215 (-18%) from the previous week. Panamax rates are averaging $24,472/day, an increase of $530 (2%). Supramax rates are now averaging $22,192/day, a decrease of $1,151 (-5%). Handysize rates are averaging $17,228/day, a decrease of $944 (-5%)” said the report.
It went on to say that as a whole, dry bulk freight rates have fallen for twenty consecutive index days but appear to be finally finding support. Capesize rates managed to reverse their epic fall and increased slightly on Friday, with rates ending the week averaging $24,283/day. It is remarkable the difference a few weeks can make, as Capesize rates were averaging $55,010/day just three weeks ago. Since that time, Chinese steel prices have decreased moderately - but spot iron ore prices have been actually increasing and iron ore fixtures have remained firm. Period activity has decreased significantly, however, with only 52 period deals reported in the first four weeks of this month, 70 fewer deals than the 122 period deals fixed in the first four weeks of May.
The market has been influenced by negative sentiment brought on by fears of a slowdown in Chinese real estate construction. Steel production in China will likely decline moderately this month as steel mills respond to a steady decrease in steel prices - but a large decrease in production is not expected. Thermal coal demand in China and throughout Asia remains firm and will likely stay robust” concluded Commodore.
Meanwhile, in a separate report, shipbroker BRS (Barry Rogliano Salles) mentioned that the decline in dry bulk rates slowed this week and there was talk of the market bottoming out. “Explaining some of the recent softness, China confirmed a 19% fall in coal imports for May due mainly to high product and freight prices. Overall the BDI lost 7% week-on-week. Regardless, China’s National Energy Agency (NEA) predicted the country could overtake the US as the world’s largest energy consumer this year. According to the country’s National Bureau of Statistics, China consumed 3.02bn tons of coal, 380m tons of crude oil, 88bn cbm of natural gas and 3.7trn kWh of electricity in 2009. If its consumption growth rate remains stable at around 8.9% (the average growth rate between 2000-2009), the country could consume 8bn tons of coal by 2020, said the NEA. China has been the second largest global energy consumer since 2002” said BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
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- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Sical Logistics Limited - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
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