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Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
 The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previous week, a pattern noted on Monday as well. The main reason for this was the significant decrease in iron ore fixtures. Yesterday, the BDI ended down by 48 points to 2628, while the capesize segment, which traditionally is serving the iron ore market, was down by 92 points to 3389. According to the latest weekly report by Commodore Research, 24 ore fixtures were reported last week, a decline from 33 ore fixtures of the previous week. “Only 12 of last week’s ore fixtures were for capesize vessels, a decline from 24 capesize vessels chartered to haul iron ore during the previous week. Demand for panamax vessels remained firm due to strong demand for coal from Asian importers, but panamax rates came under a large amount of pressure due to the sudden turn in sentiment (discussed in more detail below). Rates for supramax and handysize vessels were able to hold steady due to solid demand for grain and minor bulk cargo” said Commodore.
In terms of spot charter activity, a total of 120 trips were reported (8 less than the previous week), while an additional 17 period fixtures (14 less than the week before) also came to show how much smaller was cargo demand. According to the report, “last week’s sharp decline in period chartering activity is a clear indication of sentiment turning negative due to the Chinese government’s decision to restrict power allocation to steel mills. The 17 period fixtures were down sharply from the trailing four week average of 32 fixtures”. Commenting on the current state of the market, Commodore said the following: “total spot chartering activity remained firm last week despite a decrease in iron ore fixtures. Capesize freight rates are being affected by restrictions in China that have reduced electricity allocation to steel mills. Panamax rates have been partially affected by these restrictions as well, with negative sentiment caused by the restrictions being a factor behind their recent decline. A large amount of panamax vessels continue to be chartered to export coal to Asian buyers however. A higher than usual amount of panamaxes have also been chartered to haul iron ore.
Sentiment has turned negative. Last week’s 17 period fixtures were the lowest amount of weekly period fixtures reported since the week ending July 16. At that time, spot rates were near 2010 lows. Market players have been spooked by the recent decision by the Chinese government to reduce electricity allocation to Chinese steel mills. Their fears are certainly warranted. It remains to be seen how much and how long Chinese steel production will be affected by the electricity restrictions. The restrictions will continue to represent a significant threat to near-term dry bulk freight rates” concluded the report.
Meanwhile, in a separate report by Golden Destiny on the sale and purchase front, it was noted that newbuilding activity rose by 61.2% on a week-to-week basis. As a result of the BDI negative territory, just six dry bulk carriers reportedly changed hands, a weekly drop of 50%. In total the week ended with “15 vessels reported to have changed hands equalling a total amount of money invested around $181,250,000, two secondhand transactions reported on private terms. In the demolition market, 7 vessels have been headed to the scrap yards of total deadweight 236,806 tons, while in 2009 3 vessels reported for scrap indicating a positive yearly change of around 133%.The highest activity has been recorded once again in the newbuilding market with 50 vessels reported to have been ordered equalling a total deadweight around 1,868,755 tons, while at similar week of 2009 only 2 orders have been reported in the offshore sector. In terms of reported number of transactions, the bulk carrier sector domains in the newbulidng business holding around a 52% share of the market with kamsarmax being the most popular vessel type. The Greek presence has calmed down significantly this week in the secondhand market as only 1 transaction reported in the bulk carrier sector equalling a total amount invested around US$ 22,000,000 while the investments of Greeks in the newbuilding sector continue with a remarkable post panamax order in the container sector. In total, 7 units have been ordered by Greeks equalling a total invested capital around US$ 304,978,000, two new building transactions reported on private terms” the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 02 October 10
FOUR INDONESIAN COAL FIRMS KEEN TO TIE UP WITH NALCO - SIFY
Sify reported that, Four Indonesian coal companies have shown interest to tie up with public sector National Aluminium Company (Nalco) for its 4 bil ...
Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
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- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Australian Coal Association
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