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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, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
Wednesday, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
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- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
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- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
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- Bhatia International Limited - India
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- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- CNBM International Corporation - China
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
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