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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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Thursday, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
Thursday, 04 November 10
GVK TALKS WITH MEC FOR INDONESIAN MINES DEAL - DNA INDIA
As reported by DNA India, GVK Power and Infrastructure on Wednesday said it is in talks with Gulf-based MEC Coal to buy its coal mines in Indonesia, ...
Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, du ...
Tuesday, 02 November 10
ADDED VALUE REMAINS STAGNANT - MAJALAH TAMBANG
The improvement of added value of mining products in accordance with mandate of the mining law has not been visible. Minerals and coal are still exp ...
Saturday, 30 October 10
THE SUPRAMAX FREIGHT MARKET THIS WEEK REMAINED ALMOST AT LAST WEEK LEVELS - VISTAAR SINGAPORE
COALspot.com: The freight market this week remained almost at same levels except for Panamax index which was up by 191 points.
The feast/SE Asia ...
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Showing 5541 to 5545 news of total 6871 |
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- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
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