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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, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
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- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- White Energy Company Limited
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Economic Council, Georgia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
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