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Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session, retreating Monday by 2.81 percent, down to 2,216 points. The Baltic's capesize index (BCI) lost 1.87 percent, with average earnings falling to $23,012. The Panamax index (BPI) was down by an additional 3.96 percent, its lowest since the previous October, with panamaxes now earning $18,941.
During the previous week, a total of 27 ore fixtures were reported, an increase from 20 ore fixtures reported during the previous week. 20 of last week’s 27 iron ore fixtures were for Capesize vessels. “Resilient Chinese iron ore demand and continued robust Asian thermal coal demand allowed Capesize rates to basically hold steady. Panamax rates decreased significantly, however, partially due to the imbalance in the Capesize/Panamax ratio. One week ago Panamax rates were slightly higher than Capesize rates. This imbalance has begun to correct itself” said Commodore Research in its latest weekly report.
Commenting on the current state of the market, the report stated that spot chartering activity has increased moderately from a week ago. Asian thermal coal demand remains robust and a surge in Indian and Chinese thermal coal fixtures was evident in the market last week. Spot iron ore demand also remains firm, despite a lingering fear that Chinese real estate construction is about to significantly decrease. Grain fixtures remain relatively firm as well, with a large amount of spot grain fixtures continuing to be chartered to load in South America.
“What cannot be ignored, however, is that Chinese steel production is slowing down (so far we believe the slowdown is only temporary). Recent estimates suggest that
daily Chinese steel production has been ranging somewhere between the 1.75 to 1.80 million ton level (daily Chinese steel production averaged approximately 1.81mt in May).
Despite the small decline in steel production, a moderate amount of iron ore fixtures continue to be fixed in the market and Chinese iron ore and steel stockpiles have remained relatively steady. Going forward, the strength of the dry bulk market will continue to be influenced by Chinese steel production” Commodore said.
Another factor which could add more pressure to the market, is a decline in port congestion. Approximately 155 vessels are currently anchored outside Australian ports, 5 less than a week ago. Approximately 45 vessels are anchored outside Brazilian ports, 15 less than a week ago. Of the 200 vessels congested outside of Australian and Brazilian ports, about 115 of them are Capesize vessels. In comparison, 125 Capesize vessels were anchored outside of Australian and Brazilian ports a week ago. The decline in Capesize congestion at Australian and Brazilian ports has contributed to Capesize rates coming under pressure while Capesize chartering activity has remained firm.
Simultaneously, a warmer than usual weather in northeastern China has contributed to China’s robust demand for thermal coal. According to Commodore “temperatures in Jilin and Liaoning provinces have been above 30 degrees celsius (86 degrees fahrenheit) for much of the last four weeks, with temperatures reaching 33 degrees celsius (91 degrees fahrenheit) on June 8, about three weeks earlier than expected. As a result of the warmer weather in the northeast and overall strong coal demand throughout China, the Ministry of Railways has begun to prioritize thermal coal railingIn the upcoming months, Chinese thermal coal demand is expected to remain strong and power shortages are expected to occur throughout China. A need to divert power to Shanghai to ensure that the Shanghai Expo continues to operate smoothly is also putting pressure on domestic and imported supplies of thermal coal.
Zhejiang, Anhui, and Jiangsu provinces, which share the eastern power grid with Shanghai, will likely experience sporadic power shortages. Power shortages are also expected in Hebei province. An increase in Chinese hydropower production, however, continues to put pressure on Chinese thermal coal demand as the drought in the southwest (which had resulted in a significant decline in hydropower production) continues to improve. The increase in hydropower production, though, has been partially offset by the warmer than usual weather in northeastern China” the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
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- Sakthi Sugars Limited - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
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