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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, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
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- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- The University of Queensland
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
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