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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, 12 August 10
ETA STAR INDIA PUTS FORWARD COAL MINING PLAN FOR TETE, MOZAMBIQUE, IN 2011
ETA Star India Projects Pvt, which is carrying out coal prospecting and surveying work in the Moatize coal region, in Tete province, will present it ...
Thursday, 12 August 10
SUPRAS WERE FIXED IN THE MID/HIGH TEENS FOR INDO-INDIA TRIPS - FEARNBULK
Handy
Activity is gradually picking up in the Atlantic with more enquiries seen for short period tonnage for the end of August. With the grain sea ...
Thursday, 12 August 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 94.86 FOR AUGUST 2010 SUPPLIES
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Wednesday, 11 August 10
BRAZILIAN GIANT VALE LOOKING TO BOOST ITS COAL OUTPUT
BRAZILIAN mining giant Vale is not content with being the world's largest iron ore miner. The miner is banking on ambitious growth plans to see it ...
Wednesday, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
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- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- MS Steel International - UAE
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- GMR Energy Limited - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
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