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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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- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
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