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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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Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
Thursday, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
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- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- The University of Queensland
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
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