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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, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
Monday, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
Pan Asia Corporation Limited has, via Innovation West Pty Ltd, entered into a binding coal purchase & finance agreement with Noble Resources Pte ...
Monday, 23 August 10
THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
COALspot.com: The BDI continued to rise this week by 11.67 pct with the other sectors also keeping the moment. The cape size index also was up by 11 ...
Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
ASEAN Federation of Mining Association (AFMA), an association of mining groups in Southeast Asia, will hold the 9th Asia Pacific Mining Conference a ...
Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has ...
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- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- The University of Queensland
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
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