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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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Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
Monday, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
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- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- The University of Queensland
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
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