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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, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
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- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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