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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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Monday, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
Saturday, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
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- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
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