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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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Friday, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
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- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Minerals Council of Australia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- The University of Queensland
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
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