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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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Saturday, 02 October 10
FOUR INDONESIAN COAL FIRMS KEEN TO TIE UP WITH NALCO - SIFY
Sify reported that, Four Indonesian coal companies have shown interest to tie up with public sector National Aluminium Company (Nalco) for its 4 bil ...
Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
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- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
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