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Tuesday, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
 With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long road of recovery in terms of hiring rates. After the first glimmer of hope received Friday with the halt of the BDI’s 35 day slide, Monday’s session was again on the positive side. The BDI ended at 1732 points, up by 12, with gains noted both in the capesize and the panamax end of the market. Still, shipbrokers’ reports have warned that demand from China remains subdued, which means that no particular “rally” should be expected in the near term.
In its latest weekly report, Commodore Research & Analysis said that “recent spot chartering activity has decreased sharply from moderate levels seen at the start of the month. Two weeks ago, the steady increase in available vessel supply was largely responsible for the continued decline in freight rates. Last week’s decrease in freight rates, however, was largely due to the recent decline in spot cargo demand. A sharp week-on-week decrease in iron ore fixtures put additional pressure on capesize rates - but owners have reportedly begun to take their Capes out of the market in order to artificially reduce vessel supply, which would help capesize rates find support. This ploy might be working - capesize rates increased by 3.5% on Friday, after previously falling for 11 consecutive days and during much of June.
Panamax freight rates have also been finally able to find support. A moderate amount of South American grain fixtures and Indonesian and Australian coal fixtures continue
to come to the market, which have led to a moderate increase in panamax rates. Also encouraging is last week’s minuscule week-on-week decrease in Chinese steel prices.
Chinese steel prices need to reverse their decline before a sustained increase in freight rates is possible” said Commodore.
Port congestion still affect shipping rates, with approximately 155 vessels currently anchored outside major Australian ports, 10 more than a week ago. Approximately 40 vessels are anchored outside major Brazilian ports, 10 less than a week ago. Of the 195 vessels congested outside of the Australian and Brazilian ports, approximately 100 of them are Capesize vessels. In comparison, 110 Capesize vessels were anchored outside of Australian and Brazilian ports a week ago. Lower levels of global vessel congestion continue to put pressure on freight rates. Rates have come under additional pressure due to the recent decline in cargo demand.
According to Commodore, “although cargo demand has seen a noticeable week-on-week decline, owners are reportedly taking their vessels out of the market which might help rates find support”. Meanwhile, the report said that Chinese steel exports have possibly peaked. “China has exported 23.58 million tons of steel in the first six months of 2010, 14.25mt (153%) more than the 9.33mt exported during the same period in 2009. This increase in seaborne cargo has helped support rates for smaller dry bulk vessels. Chinese steel exports are about to come under pressure, however, even though global steel demand remains robust. Recently passed legislation which removes rebates for Chinese steel mills on various types of steel exports came into effect on July 15. Chinese steel exports totaled 5.62mt in June, the largest total since September 2008, but Chinese steel exports are now, on average, 10% more expensive than just 4 days ago. Chinese steel exports are now likely to begin coming under pressure” Commodore said.
As for coal trades, more thermal coal will likely be used by China, to fuel any increase in power generation, with the country’s hydropower output likely at or near its peak. As a result, Chinese thermal coal imports, which have been robust but on the decline since April, could find additional support. Commodore mentioned that in recent weeks, a moderate amount of Chinese thermal coal fixtures have been chartered in the dry bulk market and fixtures may increase in the upcoming weeks. It still remains to be seen if China will be able to generate enough electricity to satisfy growing demand.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Planning Commission, India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
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