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Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
 Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, the industry’s benchmark, the Baltic Dry Index (BDI) managed to post a healthy increase over the previous weeks. Still, Monday broke the 10-session straight increases, with the index falling by 19 points back at 2,976, with little activity in the market and small declines across most market segments. According to the latest weekly report from Commodore Research, dry bulk freight rates found continued support last week on the strength of robust spot chartering activity. Panamax rates found the most amount of support due to very firm thermal coal demand, with Chinese coal buyers chartering a large number of vessels. Chinese electricity output continues to struggle to satisfy demand, which has resulted in the government reducing power allocation to steel mills.
“Despite mills receiving less electricity, iron ore demand, particularly in China, remains robust. 33 ore fixtures were reported last week, an increase from 19 ore fixtures reported during the previous week. 24 of last week’s ore fixtures were for capesize vessels, an increase from 14 capesize ore fixtures reported during the previous week. Grain demand has also stayed firm which has contributed to panamax and supramax rates finding support.128 spot trip fixtures (53 more the previous week which had one less day of chartering activity) and 31 period fixtures (3 less than the previous week) were reported last week. Nine of the period deals were for a year or more” the report said.
It went on to state that Panamax vessels have been chartered en masse to export coal and grain, with a larger than usual amount of vessels chartered to haul cargo from the US Gulf. Rates for the smaller vessel classes have also found support on the strength of firm grain demand. Firm demand for minor bulk (including bauxite and alumina) has also given support to rates for smaller vessels. Chinese ore demand was extremely strong last week, even while reports have been surfacing that the Chinese government is beginning to reduce power allocation to steel mills (discussed in greater detail below and on page 3). Capesize rates were able to find continued support as a large number of Australian and Brazilian iron ore shipments were chartered in the market last week. It is worth pointing out, however, that a larger than usual amount of Indian iron ore fixtures were also reported as India’s monsoon season is coming to an end. Most of the Indian ore fixtures were for supramaxes” Commodore said.
But, the dry bulk market could be in for a surprise going forward chartering activity must remain at current levels for dry bulk rates to find greater support. According to Commodore, the Chinese government’s decision to reduce electricity allocation to steel mills, however, represents a great threat to near-term dry bulk rates – especially capesize rates. Chinese steel demand has remained firm recently, with crude steel output in August estimated at 51.64 million tons - a decline of just 100,000 tons from production in July. So far this year, monthly Chinese crude steel output has averaged 53.33mt, an increase of 6.09mt (13%) from 2009’s monthly average of 47.24mt. It remains to be seen just how much China’s steel production will be affected by the electricity allocation restrictions. With steel prices rising and Chinese steel stockpiles continuing to decline, China’s steel mills will be disinclined to lower production. Some reports suggest that a few steel mills are using diesel-powered generators to generate additional electricity for their blast furnaces. Other reports suggest that the government penalties on using too much electricity are not high enough to truly stop mills from using large amounts of electricity. We will continue to monitor this development closely, as there is certainly potential for a decline in steel output. Based on last week’s level of Chinese iron ore fixtures, however, Chinese steel and iron ore demand remain firm” Commodore’s report concludes.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 09 November 10
NOBLE GROUP APPOINTED AS THE EXCLUSIVE MARKETING AGENT FOR PT. BERAU COAL
COALspot.com: Noble Group Limited has recently been appointed as the exclusive marketing agent for PT. Berau Coal production exported to internation ...
Monday, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
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- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
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