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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, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
Monday, 02 August 10
LINC, ADANI COMPLETE THEIR COAL CONNECTION
"THE much-speculated deal between underground coal gasification company Linc Energy and India's Adani Enterprises is set to be signed tomorrow ...
Saturday, 31 July 10
TABONEO ANCHORAGE TO LOAD 1.5 MLN TON OR MORE COAL IN H1 AUGUST
COALspot.com: Eighty five ocean going vessels and barges have been nominated by coal buyers to their respective suppliers in Indonesia to load about ...
Saturday, 31 July 10
SEEMS THE FREIGHT MARKET WOULD BE FAIRLY STABLE FOR H2 2010 - VISTAAR
COALspot.com: The BDI continued moving up since 16th July and rise by 14 pct almost touching 2000 points.
The BDI was up by 7.72 pct last week wh ...
Friday, 30 July 10
DRY BULK MARKET BACK ON THE ROAD TO RECOVERY
Freight rates for dry bulk carriers have continued to edge higher this week, with the industry’s main benchmark, the Baltic Dry Index (BDI) ga ...
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- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- The University of Queensland
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
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