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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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Monday, 11 October 10
INDONESIAN POWER PLANTS AND OTHER INDUSTRIES TO BURN 78.97 MLN TONS OF COAL IN 2011
COALspot.com: The Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree 2360 K/30/MEM/ 2010 related to Domestic mark ...
Monday, 11 October 10
COAL IMPORTS TO START IN 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Viet Nam is now likely to import coal only from 2015, not 2013 as earlier forecast since many thermal power pl ...
Monday, 11 October 10
OCTOBER INDONESIAN COAL PRICE REFERENCE UP BY 2.92 PERCENT
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Saturday, 09 October 10
MPPGCL SEEKS TO BUY 0.40 MLN MT OF COAL FOR ITS THERMAL POWER STATIONS
COALspot.com: India's Madhya Pradesh Generating Company Limited (MPPGCL), Jabalpur, Madhya Pradesh invites bidders through tender 07-03/Import/Coal ...
Saturday, 09 October 10
FREIGHT MARKET IS EXPECTED TO FIRM UP NEXT WEEK CAPT REDDY
COALspot.com: Inspite of Chinese holidays the BDI was up by 10 pct and closed at 2,696 points. The cape index shot up to 20 pct and closed at 4,076 ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Planning Commission, India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Minerals Council of Australia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
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