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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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Tuesday, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
Saturday, 14 August 10
INDONESIAN THERMAL COAL PRICES EXPECTED TO MOVE UP IN SEPTEMBER 2010 - CHAIRMAN ICMA
COALspot.com: Indonesian Coal Mining Association is expecting, the Indonesian and international coal prices will increase, and will be reached ...
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- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
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