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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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Thursday, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
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- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- The University of Queensland
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- White Energy Company Limited
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Australian Coal Association
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
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