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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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Friday, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
Friday, 29 October 10
CHINA'S COAL DEMAND DRIVES DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is posting marginal, yet steady growth this week, with the Baltic Dry Index rising yesterday to 2784 points, up by 0.2%. Both th ...
Wednesday, 27 October 10
TNPL TO AWARD 240,000 MT COAL SUPPLY CONTRACT TO COAL & OIL
COALspot.com: Tamil Nadu Newsprint Papers Limited, Tamil Nadu state owned Newsprint and Printing & Writing Paper producer has opened a coal purc ...
Wednesday, 27 October 10
CHINA AIDS RUSSIA IN DEVELOPING COAL RESOURCES - PEOPLE'S DAILY
People's Daily reported that, Russia will use 6 billion U.S. dollars in loans provided by China to develop coal resources in Sakhalin Island, Elege ...
Wednesday, 27 October 10
MAIDEN COAL SHIPMENTS TO NOBLE RESOURCES - PAN ASIA AUSTRALIA
Press Release :
First Coal Shipments made from Nadvara Coal Project, East Kalimantan
51,616 tonnes delivered from October production &ndas ...
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- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
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