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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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Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
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- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
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