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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, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
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Showing 5641 to 5645 news of total 6871 |
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- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Planning Commission, India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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