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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, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
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- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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