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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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Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
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- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
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