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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, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- PTC India Limited - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Planning Commission, India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
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