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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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Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
Thursday, 19 August 10
INDONESIA EXPORTED 5.93 MLN TON OF COAL TO CHINA AND 3.52 MLN TONS TO INDIA IN JULY
COALspot.com: Indonesia shipped 3.52 million tones of thermal coal to India in July, fell 25.39 percent compared to June's exports of 4.71 million ...
Thursday, 19 August 10
WBPDCL INDIA LAUNCHES SPOT COAL TENDER
COALspot.com: The West Bengal Power Development Corporation Limited (WBPDCL ), A Govt. of West Bengal Enterprise, has launched spot contract tender ...
Thursday, 19 August 10
PANAMAX BACKED BY A STRONGER SHORT PERIOD MARKET AND SUPPORTED BY SOME FRESH REQUIREMENTS - FEARNBULK
Handy
The events of this week have confirmed our assessment of last week i.e. activity gradually picked up in the Atlantic with more enquiry seen ...
Thursday, 19 August 10
CSC TO SHIP COAL FOR NOROCHCHOLAI POWER PLANT
Daily Mirror reported that, coal for the Norochcholai Power Plant will be shipped to the country by the Ceylon Shipping Corporation (CSC) officials ...
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- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
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