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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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Thursday, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
Monday, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
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- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
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