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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, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
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- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Planning Commission, India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
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