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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, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaiku ...
Tuesday, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
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- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Planning Commission, India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
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