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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, 13 September 10
FREIGHT MARKETS MAY BE A BIT SOFT THIS WEEK - VISTAAR SINGAPORE
COALspot.com: The freight market continued its upward trend with the BDI almost touching 3000 points. However the uncertainty seems to continue with ...
Friday, 10 September 10
INDONESIAN RAILWAY CONTRACT STILL UP FOR BIDDING - LOGISTICS WEEK
The tender process for a $2.2bn project to build a coal-transporting railway line in Central Kalimantan province, Indonesia, is still underway and n ...
Friday, 10 September 10
WCI INTO CHINA WITH IRON ORE ARE AIMING AROUND $ 20K - FEARNBULK
Handy
The rates are firm in every corner of the world. However it still looks Atlantic/Baltic/Black Sea offer better employment opportunities for ...
Thursday, 09 September 10
INDIANS BALCO TO BUY 50 K OF 3,000 TO 4,500 GAR CALORIFIC VALUE COAL
COALspot.com: Bharat Aluminium Company Limited (BALCO) is a subsidiary of Sterlite Industries (India) Limited and part of Vedanta Resources PLC, a L ...
Thursday, 09 September 10
INDONESIA SWAPS COAL FOR INFRASTRUCTURE - FT
As Asia’s major economies bound forward and their hunger for energy surges over the next decade, Indonesia is strategically positioned to take ...
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- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Economic Council, Georgia
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