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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, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
Monday, 04 October 10
2 BLN TONS OF COAL RESERVES DISCOVERED IN SOUTHERN PAKISTAN - XINHUA / HELLENIC SHIPPING
Xinhua and Hellenic Shipping reporte dhtat, the discovery of at least two billion tons of usable coal reserves has been confirmed in one of the ...
Sunday, 03 October 10
THE BDI WAS JUST INCREASED BY 8 POINTS AND CLOSED AT 2452 POINTS LAST FRIDAY - VISTAAR
COALspot.com: The BDI was almost at same levels and just increased by 8 points and closed at 2452 points , however the cape index was up by al ...
Sunday, 03 October 10
NALCO TO FINALIZE INDONESIA COAL DEAL BY JANUARY - HINDUSTAN TIMES
HindustanTimes reported that, state-owned National Aluminium Company (NALCO) will finalise a deal with a coal source in Indonesia for its $4 billion ...
Sunday, 03 October 10
INDONESIA WILL BECOME A NET IMPORTER OF ENERGY IN 2030 - BPPT
Jakarta Updates reported that,Indonesian Agency for the Assessment and Application of Technology (BPPT) predicted that the energy situation in Indon ...
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- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- VISA Power Limited - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Parliament of New Zealand
- Australian Coal Association
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
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