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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, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
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- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
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